Priceline (PCLN) Target Raised at Cantor Fitzgerald

August 9, 2013 8:15 AM EDT Send to a Friend
Get Alerts PCLN Hot Sheet
Price: $1,103.07 +2.39%

Rating Summary:
    27 Buy, 3 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 37 | Down: 17 | New: 30
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Cantor Fitzgerald reiterated a Buy on priceline.com (NASDAQ: PCLN) and raised its price target to $1,050.00 (from $900.00).

Analyst Naved Khan said, "Priceline posted impressive 2Q results that easily topped Street expectations on strong growth in bookings and room nights and better margins. While relative stability in the company's core European market and strength in AsiaPac continues to power international bookings, the company also likely gained ground in the US, benefiting from increased TV ads and Expedia's mis-execution on TripAdvisor, in our view. We believe that Priceline's market share gains will continue given its best-in-class hotel inventory, while the likely deployment of Kayak in more international geographies should open further avenues for growth over the next 12-18 months."

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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