Piper Jaffray Raises Target on Priceline.com (PCLN) to $881; Calls Q2 Outlook 'Conservative'

Piper Jaffray's Michael Olson boosted his price target on Priceline.com (NASDAQ: PCLN) shares by about 6 percent from $763 to $811 and reiterated an Overweight rating following the company's Q1 results and guidance Wednesday afternoon.

Olson called the company's Q2 outlook "conservative." He is modeling for continuing strong international growth.

With Priceline shares down nearly 5 percent to $685 at last check, the Piper Jaffray analyst's new price target represents potential upside of about 18 percent.

For an analyst ratings summary and ratings history on priceline.com click here. For more ratings news on priceline.com click here.

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