Risk/Reward Favors Owning Priceline (PCLN); Target Raised to $1260 at Goldman Sachs

November 8, 2013 9:37 AM EST Send to a Friend
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Price: $1,244.31 -0.51%

Rating Summary:
    28 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 3 | Down: 4 | New: 7
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Goldman Sachs maintained a Buy rating on priceline.com (NASDAQ: PCLN) and raised its price target to $1,260.00 (from $1,200.00). The change follows solid Q3 results.

"With accelerating growth, a benign macro environment, and the stock trading in line with the group despite faster growth, we continue to believe the risk/reward in owning PCLN is favorable," said analyst Heath P. Terry.

"Based on our revised estimates, our 12-month target goes from $1,200 to $1,260, derived from 18X 2014E EV/EBITDA vs. the sector median at 14X," he added.

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 $1022.89 yesterday.




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