DB Sidelined on Priceline.com (PCLN) as Google (GOOG) Treads on Turf

April 18, 2013 10:17 AM EDT Send to a Friend
Get Alerts PCLN Hot Sheet
Price: $1,138.43 +0.66%

Rating Summary:
    27 Buy, 3 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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Deutsche Bank today maintained a Neutral rating on Priceline.com (Nasdaq: PCLN) with a price target of $745. Analyst Ross Sandler said he remains on the sideline given increasing competition from Expedia Inc. (Nasdaq: EXPE), higher cost of desktop search and, importantly, eventual competition from Google (Nasdaq: GOOG).

"The only new thing that we've seen in 1Q is Google increasing its Hotel Finder push in Europe, which should be largely benign to financials but could impact sentiment," said Sandler. "Our proprietary checks show that Google began surfacing Hotel Finder across Europe in March and April, which could have slight inflationary pressure on hotel CPC's for positions #1 and #2 on the search results pages at some point, according to our SEM checks."

For an analyst ratings summary and ratings history on priceline.com (Nasdaq: PCLN) click here. For more ratings news on priceline.com click here.

Shares of priceline.com closed at $708.80 yesterday.


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