Priceline.com (PCLN) Slightly Higher Ahead of Q1 Results; Piper Sees Another Beat

Priceline.com (Nasdaq: PCLN) is up fractionally ahead of earnings due after the close. Wall Street is looking for EPS of $0.60 and revenues of $377.2 million.

Priceline.com is known for beat-and-raise quarters. In Q4, the company beat the street EPS view by 12c.

The morning, Piper Jaffray reiterated its Buy rating and $147 price target on Priceline.com ahead of the report. They see another beat. The firm said European hotel growth remains healthy and said recent comments from Expedia and Orbitz bode well for Priceline US.

On a more cautious tone, recently Citi downgraded PCLN to Hold, primarily on valuation. Citi has a $137 price target on PCLN.

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