Market Overview

UPDATE: Morgan Stanley Raises PT to $725 on Priceline.com

Morgan Stanley reiterates its Overweight rating on Priceline.com (NASDAQ: PCLN) and raises its price target from $670 to $725 on increased confidence of continued performance.

Morgan Stanley notes, "Priceline continues to outshine competition, posting Q4 hotel room-night growth of +53% Y/Y (~3x faster than Expedia). We are incrementally positive on Priceline's ability to maintain its strong growth momentum through weak European economic conditions and raise our price target to $725 from $670."

PCLN closed at $591.54 a share on Monday.

Posted-In: Morgan StanleyAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

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