Priceline (PCLN) Price Target Raised to $1120 at Deutsche Bank

August 9, 2013 8:11 AM EDT Send to a Friend
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Price: $1,114.45 --0%

Rating Summary:
    27 Buy, 3 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 10
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Deutsche Bank maintained a Buy rating on priceline.com (NASDAQ: PCLN) and raised its price target to $1,120.00 (from $980.00).

"Priceline reported gross profit and EPS 3% above our estimates, fueled again by strong growth in international hotel. More importantly, the 3Q13 guidance implies an improving trajectory for EBITDA margin, which could approach flat Y/Y in the quarter for the first time in a year, and would help fuel multiple expansion. PCLN is executing better than most companies in the broader Internet sector, and its ~30% EPS growth vs. a 18x P/E, remains one of the most attractive risk/rewards," said analyst Ross Sandler.

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 $927.58 yesterday.


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