Jefferies Starts priceline.com (PCLN) at Buy; Strong Grower At an Attractive Price

Jefferies initiates coverage on priceline.com (NASDAQ: PCLN) with a Buy rating and $580 price target.

The firm cited: "a) Priceline's superior growth momentum and track record of solid execution, b) its significant international exposure, offering a unique play on large, underpenetrated, and faster growing markets overseas, and c) the stock's attractive valuation at 10.6x fwd EBITDA and robust FCFs ($1B+ in FY11), with room for further margin expansion."

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 $493.26 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Truist Securities Starts Matthews International (MATW) at Hold, 'We see risk/reward as more balanced'
• Wells Fargo Starts Vivmark Residential (VMRK) at Overweight, 'Setting the mark for growth'
• William Blair Starts Beta Bionics, Inc. (BBNX) at Market Perform