Goldman Sachs' Target on priceline.com (PCLN) Goes to $700 After Blowout Q4

Goldman Sachs boosted estimates and its price target on Buy-rated priceline.com (NASDAQ: PCLN) from $610 to $700 following strong Q4 results after the close.

Despite challenging economic conditions and sovereign debt issues in Europe, priceline.com showed quarter-over-quarter improvement the firm notes.

The firm's 2012 revenue/pro forma EPS estimates go from $5,571 mn/$30.97 to $5,849/$31.81. 2013 estimates go from $6,508 mn/ $37.25 to $7,117 mn/$39.13. 2014 estimates are $8,488 mn/$47.39

For an analyst ratings summary and ratings history on priceline.com click here. For more ratings news on priceline.com click here.

Shares of priceline.com closed at $591.54 yesterday.

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