NEW YORK — Airbnb (NASDAQ: ABNB) drew multiple price target increases from Wall Street analysts after its second-quarter results topped estimates on both the top and bottom lines.
Jefferies raised its target to $175 from $160, maintaining a Buy rating. BMO Capital Markets increased its target to $165 from $146, holding a Market Perform rating. Airbnb reported revenue of $3.61 billion, up 16.5 percent year-over-year, with adjusted earnings per share of $1.37.
Elsewhere, Berenberg raised its target on Eli Lilly (NYSE: LLY) to $1,220 from $1,135.
Dave & Buster's Entertainment (NASDAQ: PLAY) received three target increases: D.A. Davidson lifted its target to $260 from $160, Jefferies raised it to $230 from $185 and TD Cowen increased it to $270 from $210.
JPMorgan raised its target on Aramark (NYSE: ARMK) to $70 from $55 and lifted its target on Cardinal Health (NYSE: CAH) to $260 from $215. Jefferies moved its target on Coherent (NASDAQ: COHR) to $420 from $375.
On the downside, Jefferies cut its target on Tripadvisor (NASDAQ: TRIP) to $9 from $11 and reduced its target on Zillow Group (NASDAQ: Z) to $46 from $60. Guggenheim cut its target on Unicycive Therapeutics (NASDAQ: UNCY) to $25 from $37. National Bank of Canada lowered its target on AECOM (NYSE: ACM) to $90 from $95.
Benchmark initiated coverage on Allegro MicroSystems (NASDAQ: ALGM) with a Buy rating and a $60 price target and resumed coverage on Materion (NYSE: MTRN) with a Buy rating and a $375 target.
The Nasdaq rose 0.5 percent and the S&P 500 gained 0.3 percent.
