Goldman Sachs Resumes priceline.com (PCLN) at Buy
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Price: $813.66 +1.70%
Rating Summary:
22 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
22 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade PCLN Now!
Goldman Sachs resumes coverage on priceline.com (NASDAQ: PCLN) with a Buy and $610 price target.
"With the best mix of businesses in the fastest growing markets and an industry average valuation despite superior growth, we believe PCLN represents an attractive risk/reward proposition."
Priceline has the best business mix, Goldman said, with online travel business, where hotel, car rental, and packages are the most profitable segments, and Europe and Asia are the fastest growing markets.
Despite the maturity of the market, "North America represents a significant additional growth opportunity for Booking.com to leverage its technology, customer acquisition skills, and international strength into material incremental growth," the firm said.
The biggest concern for Pricelines is the weakening global macro environment, but with shares off 8% since November 8 they believe these concerns are already reflected in the stock.
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 $462.69 yesterday, with a 52 week range of $392.90-$561.88.
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"With the best mix of businesses in the fastest growing markets and an industry average valuation despite superior growth, we believe PCLN represents an attractive risk/reward proposition."
Priceline has the best business mix, Goldman said, with online travel business, where hotel, car rental, and packages are the most profitable segments, and Europe and Asia are the fastest growing markets.
Despite the maturity of the market, "North America represents a significant additional growth opportunity for Booking.com to leverage its technology, customer acquisition skills, and international strength into material incremental growth," the firm said.
The biggest concern for Pricelines is the weakening global macro environment, but with shares off 8% since November 8 they believe these concerns are already reflected in the stock.
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 $462.69 yesterday, with a 52 week range of $392.90-$561.88.
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
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