Citi Reiterates 'Hold' Rating on Priceline.com (PCLN), Lowers Price Target
More News related to PCLN
- Mandel's Lone Pine Capital Picks Up More of a Major Bank, Gets New Shares of a Smartphone Maker and Lowers Stakes in the Credit Card Processors
- Top 10 News Items 11/09-11/13: HP/3Com Strike a Massive Tech Deal; Intel to Pay AMD $1.25B to Settle Disputes; Wal-Mart Reports Solid Q3 Results
- Momentum Sectors Carry Into Weekend
- Priceline.com Releases Its 2009 List Of The Best Days To Fly For The Holidays, Updates Average Holiday Airfare Data
- Notable Analyst Rating Changes 11/11: SMI, TOL, SFD, MCHP Upgraded; PCLN, SNV, RHIE, ADBE, SIGM, HUM Downgraded
Citi reiterates a 'Hold' rating on Priceline.com Inc (Nasdaq: PCLN), lowers price target from $161 to $142.
Citi analyst says, "Factors behind multiple reduction: 1) Weakening European macro trends...2) Weakening European travel trends...3) Increasing Search advertising competition...There Are Plenty Of Positives Here — 1) PCLN has proven out as the most defensive ‘Net stock YTD (up 9%) due to 60%+ of bookings/profits in Europe & counter-cyclical U.S. hedges. 2) PCLN is a clear market share gainer. 3) PCLN’s huge installed base advantage – almost 45,000 hotels in Europe vs. 15,000 for Expedia – means it is unlikely to face material marketing inefficiencies near-term; & 4) PCLN has the travel sector’s best management team."
priceline.com Incorporated is an online travel company that offers its customers a range of travel services, including airline tickets, hotel rooms, car rentals, vacation packages, cruises and destination services.
Related Categories
Analyst CommentsStocks Mentioned
+1.11Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
