The Priceline Group (PCLN) PT Raised to $1800 at Jefferies
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Jefferies analyst Brian Fitzgerald reiterated a Buy rating and raised his price target on The Priceline Group (NASDAQ: PCLN) to $1,800.00 (from $1,700.00).
Fitzgerald commented, "PCLN reported another solid qtr with strong growth across all key geographies. Agoda rev accelerated while Kayak expanded in APAC and LatAm. Guidance, usually conservative, came in mixed on continuing momentum from Q3 and further headwind in ad ROIs. We reiterate our Buy and raise PT to $1,800."
The firm adjusted FY 2016 EPS from $71.22 to $64.45 and FY 2017 EPS from $86.14 to $78.59.
Shares of The Priceline Group closed at $1480.33 yesterday.
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