Evercore ISI Upgrades The Priceline Group (PCLN) to Buy
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Evercore ISI upgraded The Priceline Group (NASDAQ: PCLN) from Hold to Buy with a price target of $1,650.00 (from $1,360.00). Analyst Ken Sena said priceline shares offer scale advantage, execution track record, and value.
"Through Booking.com, PCLN offers scale advantage, characterized by its leading global position in travel and deep penetration of independents and the European OTA market (both >50% currently), execution track record, and value. Moreover, in terms of execution, PCLN's growth leads peers on ~2x the base as the company expands into large and underpenetrated markets, while creating additional stickiness for its platform in the way of enterprise services. On valuation, at 17x 2017 Adj. EPS, PCLN also trades in line to below travel peers despite greater scale and faster growth," said Sena.
Shares of The Priceline Group closed at $1427.20 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Raises Price Target on FMC Technologies (FTI) After Adjusting Estimates
- UPDATE: Stifel Downgrades SL Green Realty (SLG) to Hold
- Netflix (NFLX) PT Raised to $140 at Guggenheim
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change, Hot Upgrades, Upgrades
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!