Truist upgrades Airbnb to Hold, raising price target to $129 on improved 2026 earnings outlook.

Truist upgraded Airbnb from Sell to Hold and raised its price target to $129 from $107 after revising 2026 adjusted EBITDA and earnings estimates higher. The upgrade reflects improved profitability expectations following Q4 results that showed a stabilizing investment cycle and strategic spending on growth initiatives. Airbnb's Q4 revenue and booking growth beat estimates, and 2026 guidance projects double-digit revenue growth. The upgrade signals reduced bearishness but offers limited near-term upside as the stock already trades above the new target. Investors will watch Q1 2026 results for margin stabilization confirmation.