Airbnb Given an Outperform Rating
Skift Take
- Bernstein initiated coverage on Airbnb with an Outperform rating and $143 price target.
- B of A Securities cut their rating on Membership Collective to Underperform from Buy. They lowered their price target to $4 from $12.
- Service Properties Trust announced it amended the agreement governing its revolving credit facility and exercised its option to extend its maturity date to July 2023.
Bernstein Research initiated coverage on Airbnb with an Outperform rating and $143 price target. Bernstein cited its dominant position in the vacation-rental space and said they see little reason why ABNB can’t become a meaningful seller of other travel verticals.
B of A Securities cut their rating on Membership Collective to Underperform from Buy. They lowered their price target to $4 from $12.
Service Properties Trust announced it amended the agreement governing its revolving credit facility and exercised its option to extend its maturity date to July 2023. The key terms of the amendment include that SVC will maintain minimum liquidity of $600 million until it repays or refinances its $500 million of 4.50% senior notes due in June 2023 and maintains at least $150 million of liquidity thereafter. The other is that restrictions on paying common dividends and issuing secured debt previously agreed to during the existing waiver period were removed,
