Diamonds and Dogs
Oil stocks jumping today as the reopening trade is back on. EOG Resources (EOG) is up 4% to a one month high on an upgrade an $82 price target. OPEC stated over the weekend that global oil demand will exceed pre-pandemic levels next year with travel recovering as vaccination rates continue to improve.
Airbnb (ABNB) down 3% on a downgrade. The analyst's price target is $132, which implies about a 20% drop from recent levels. Sheridan said the company is "a strong player with runway for growth and margin expansion," but he also expects "a volatile travel environment ahead," finds the online travel market to be "relatively mature," and sees "high levels of competitive intensity."
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