Janney Capital Resumes Priceline Group (PCLN) at Neutral

Janney Capital resumes coverage on Priceline Group (NASDAQ: PCLN) with a Neutral rating and a price target of $1,050.00.

Analyst Brian McGill commented, "We are resuming coverage of Priceline Group (PCLN) with a NEUTRAL rating because we believe the company’s growth rate will slow faster than expected due to issues with the European hotel business. This segment will be hurt by a maturing hotel market, limited opportunities to add valuable properties, actions by hoteliers, and macro factors. On the positive side, the company has a very strong balance sheet and an undemanding valuation. Our fair value is $1,050, which is 14x our 2015 EBITDA."

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 $1037.99 yesterday.

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