Benchmark Trims Earnings Estimate for Priceline.com (PCLN)

Benchmark analysts Frederick Moran, Clayton Moran, and Daniel Kurnos cut their EPS estimates for Priceline.com

and lowered the price target from $287 to $253. The analysts are concerned about economic turmoil in the Eurozone and a steady decline in the Euro and British pound. Encouraging signs include improving travel demand and transaction volume growth. Benchmark rates PCLN Buy, with a price target of $253.00. Priceline is currently trading at $177.88.