** J.P. Morgan raises price target on vacation rental platform Airbnb ABNB.O to $120 from $115; rating unchanged at "neutral"
** Shares down 4.5% at $118 premarket
** Says co's emerging markets are growing twice as fast as the core business
** Brokerage says it is encouraged by co reiterating 2025 adj EBITDA margin forecast amidst macro uncertainty
** "ABNB spent a few years rebuilding its app on a new tech stack to support entirely new offerings and expressing its desire to move beyond the core," says brokerage
** Sixteen of 46 brokerages rate the stock "buy" or higher, 25 "hold" and 5 "sell"; their median PT is $143.06 - LSEG data
** As of last close, stock had fallen 5.6% YTD
(Reporting by Apratim Sarkar)
((Apratim.Sarkar@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.