Deutsche Bank upgrades Airbnb to Buy with $154 target price. The analyst firm cited strong fourth quarter performance, with nights booked surging 10 percent and beating Street expectations by 3.6 percent, marking the company's fastest growth in 2025. Two key product innovations drove over 200 basis points of expansion, including the Reserve Now Pay Later option that boosted North American bookings and a simplified host fee structure that reduced pricing friction. Airbnb now projects double-digit revenue growth for 2026, supported by product acceleration from late 2025 and anticipated foreign exchange gains in the first half of 2026. The upgrade reflects growing confidence in the company's ability to sustain momentum through strategic product improvements and operational efficiency gains.
