** D.A. Davidson upgrades Airbnb ABNB.O to 'buy' from 'neutral', citing relative resilience of online leisure travel spend, focus on affordability, new product cycle and reasonable valuation

** Brokerage cuts co's price target to $155 from $170, the new price target shows 23.5% upside to stock's last close

** Shares down 5% at $119

** Says inventory supply provides a number of competitive advantages for co in areas such as transaction conversion rate, efficiency of marketing spend, and revenue quality

** 15 of 46 brokerages rate the stock "buy" or higher, 26 "hold" and 5 "sell"; their median PT is $146.76

** As of last close, stock was down 9.3% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))