Canaccord Genuity Maintains a 'Buy' on priceline.com (PCLN); Q1 Growth Accelerating Again
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Price: $31.88 -0.78%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Buy' on priceline.com (NASDAQ: PCLN), PT increased from $660 to $700.
Canaccord analyst says, "Priceline reported Q1/11 results and provided initial guidance for Q2, exceeding consensus on every metric. The quarter was driven by accelerating growth across almost every metric, particularly International and Hotel. While Q2 guidance, particularly for International bookings, appears conservative, the underlying fundamentals – hotel count, ADRs, market share, etc. – continue to improve. We continue to believe that Priceline is the best positioned of the online travel agents, and its position combined with powerful secular and cyclical growth should drive continued outperformance...We’re revising our 2011 estimates from $4.2B in revenues and $19.19 in PF EPS to $4.3B and $ 19.84."
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 $533.97 yesterday.
Canaccord analyst says, "Priceline reported Q1/11 results and provided initial guidance for Q2, exceeding consensus on every metric. The quarter was driven by accelerating growth across almost every metric, particularly International and Hotel. While Q2 guidance, particularly for International bookings, appears conservative, the underlying fundamentals – hotel count, ADRs, market share, etc. – continue to improve. We continue to believe that Priceline is the best positioned of the online travel agents, and its position combined with powerful secular and cyclical growth should drive continued outperformance...We’re revising our 2011 estimates from $4.2B in revenues and $19.19 in PF EPS to $4.3B and $ 19.84."
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 $533.97 yesterday.
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