Market Overview

UPDATE: JP Morgan Lowers PT to $770 on on International Leverage

Related PCLN
Use 'Best Of Breed' Stocks If You Want To Beat The Market
Goldman: S&P 500 Will Hit 2,100 By Year's End

JP Morgan maintains its Overweight rating on (NASDAQ: PCLN) but cuts its price target from $810 to $770.

JP Morgan comments, "In 2012, we forecast Priceline to generate over 80% of its bookings from international markets, and over 60% of total bookings to come from Europe. European sovereign debt concerns have been escalating since Priceline reported 1Q earnings, reflected in the decline in the Euro FX rate. Though it is not yet clear if the travel market has started to see any additional negative impact from worsening macro environment in Europe, we note that Priceline reported some weakness in Southern Europe with slowing ADR growth in the region."

PCLN closed at $619.83 on Tuesday.

Latest Ratings for PCLN

Sep 2015RedburnInitiates Coverage onBuy
Aug 2015Janney Capital
Jun 2015Deutsche BankDowngradesBuyHold

View More Analyst Ratings for PCLN
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings


Related Articles (PCLN)

Get Benzinga's Newsletters