UPDATE: Barclays Upgrades The Priceline Group (PCLN) to Overweight

Barclays upgraded The Priceline Group (NASDAQ: PCLN) from Equalweight to Overweight with a price target of $1,500.

Analyst Christopher Merwin thinks near-term concerns create a buying opportunity, as the market is pricing in a bearish scenario of falling take rates and margin de-leverage. Much of this is seen as timing-related, and he thinks take rates are stabilizing.

For an analyst ratings summary and ratings history on The Priceline Group click here. For more ratings news on The Priceline Group click here.

Shares of The Priceline Group closed at $1343.05 yesterday.

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