Wedbush Starts priceline.com (PCLN) at Outperform, Sets Price Target at $675
Tweet
Share
E-mailGet Alerts PCLN Hot Sheet
Price: $1,905.64 --0%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 17 | New: 5
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 17 | New: 5
Join SI Premium – FREE
Wedbush initiates coverage on shares of priceline.com (NASDAQ: PCLN) with an Outperform rating and $675 price target.
The company is the second largest online travel agency in the world and will continue to experience growth while the travel industry continues to grow. The firm believes that having such a large customer basis will also contribute in the growth of the company moving forward.
Although macro concerns are weighing heavy on many markets, the travel industry shows strong trends in the future. The travel industry rose 3 percent in 2010 and looks to rise another 4 percent in 2011.
An analyst at Wedbush comments, "The U.S. leads in the transition to purchasing travel products from offline to online channels, and we expect Europe and Asia to follow. With Internet usage rates increasing globally, we believe that online travel commerce will continue to grow, presenting major opportunities."
The firm released its 2011 and 2012 EPS estimates at $22.76 and $29.48. Revenue for the two years is estimated to be $4.34 billion and $5.42 billion.
For more ratings news on priceline.com click here and for the rating history of priceline.com click here.
Shares of priceline.com closed at $542.14 yesterday.
The company is the second largest online travel agency in the world and will continue to experience growth while the travel industry continues to grow. The firm believes that having such a large customer basis will also contribute in the growth of the company moving forward.
Although macro concerns are weighing heavy on many markets, the travel industry shows strong trends in the future. The travel industry rose 3 percent in 2010 and looks to rise another 4 percent in 2011.
An analyst at Wedbush comments, "The U.S. leads in the transition to purchasing travel products from offline to online channels, and we expect Europe and Asia to follow. With Internet usage rates increasing globally, we believe that online travel commerce will continue to grow, presenting major opportunities."
The firm released its 2011 and 2012 EPS estimates at $22.76 and $29.48. Revenue for the two years is estimated to be $4.34 billion and $5.42 billion.
For more ratings news on priceline.com click here and for the rating history of priceline.com click here.
Shares of priceline.com closed at $542.14 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- DA Davidson Starts Napco Security Technologies, Inc. (NSSC) at Buy
- Seaport Global Securities Starts Hims and Hers (HIMS) at Buy
- Scotiabank Starts Tenable (TENB) at Sector Perform
Create E-mail Alert Related Categories
New CoverageSign 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!
