Goldman Slashes Price Target on priceline.com (PCLN), Maintains Buy
Tweet Send to a FriendGet Alerts PCLN Hot Sheet
Price: $834.82 +1.12%
Rating Summary:
23 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
23 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade PCLN Now!
Goldman Sachs maintained a Buy rating on priceline.com (NASDAQ: PCLN) but cut the price target to $760.00 (from $860.00).
Priceline’s 2Q results came in below Goldman's forecasts and in-line with guidance, but 3Q guidance was below consensus expectations.
"We believe it’s likely this reset will be viewed similar to 1Q2010, the last time the company failed to exceed the high end of its guidance," said Heath Terry, an analyst at the bank.
"With PCLN trading at approximately 16X 2013E EPS or less than 1X its expected five-year EPS CAGR of 20%, we continue to believe the risk/reward in owning PCLN is favorable."
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 $679.80 yesterday, with a 52 week range of $411.26-$774.96.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Priceline’s 2Q results came in below Goldman's forecasts and in-line with guidance, but 3Q guidance was below consensus expectations.
"We believe it’s likely this reset will be viewed similar to 1Q2010, the last time the company failed to exceed the high end of its guidance," said Heath Terry, an analyst at the bank.
"With PCLN trading at approximately 16X 2013E EPS or less than 1X its expected five-year EPS CAGR of 20%, we continue to believe the risk/reward in owning PCLN is favorable."
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 $679.80 yesterday, with a 52 week range of $411.26-$774.96.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- Wells Fargo Starts Quintiles (Q) at Outperform
- Goldman Sachs Upgrades Enbridge (ENB) to Conviction Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT Change
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
