Analyst Raises Target on Priceline (PCLN) to $800, Sees More Upside to Street Estimates

Shares of Priceline.com (Nasdaq: PCLN) are continuing higher Monday following a 1 percent gain on Thursday and another 2.8 percent gain on Friday of last week. The stock price is now flirting with the $700 range.

Potentially helping extend last week's rally this afternoon, Monness Crespi Hardt's Bill Lennan boosted his price target on Priceline shares from $700 to a near Street high at $800. The analyst maintains a Buy rating on Priceline shares.

The analyst sees more upside to the Street's current 2012 and 2013 earnings estimates. Lennan's 2012 estimate is about 15 percent above the Street, while his 2013 estimate is about 20 percent above the Street.

A Morgan Stanley analyst on Friday boosted his price target on Priceline from $725 to $775 amid promise for the company's European market share.

Priceline shares last traded at $695.60, up nearly 3 percent from Friday's closing price.

Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Priceline.

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