Nomura Securities Cuts Numbers on priceline.com (PCLN) After Q2, Weak Outlook
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Price: $801.12 -0.31%
Rating Summary:
23 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
23 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade PCLN Now!
Nomura Securities cut estimates and its price target on Neutral-rated priceline.com (NASDAQ: PCLN) from $740 to $700 following Q2 results and lower guidance.
Analyst Brian Nowak comments: PCLN attributed the 2Q/3Q softness to continued decelerating and deteriorating European trends. PCLN also played-off the potential impact of incremental competition PCLN also played-off the potential impact of incremental competition. We note that PCLN is seeing deceleration in Europe and the U.S. We continue to like PCLN’s global share-gaining model, but remain on the side-lines until we can find a more material source of incremental earnings upside.
The firm cut from FY12E EPS from $32.90 to $31.40; F13E EPS from $40.98 to $38.19.
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.
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Analyst Brian Nowak comments: PCLN attributed the 2Q/3Q softness to continued decelerating and deteriorating European trends. PCLN also played-off the potential impact of incremental competition PCLN also played-off the potential impact of incremental competition. We note that PCLN is seeing deceleration in Europe and the U.S. We continue to like PCLN’s global share-gaining model, but remain on the side-lines until we can find a more material source of incremental earnings upside.
The firm cut from FY12E EPS from $32.90 to $31.40; F13E EPS from $40.98 to $38.19.
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
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