UPDATE: Credit Suisse Reduces PT to $820 on Priceline.com on FX Pressure
Credit Suisse reiterated its Outperform rating on Priceline.com (NASDAQ: PCLN) on positive fundamentals but reduced its price target slightly from $822 to $820 on FX pressure.
Credit Suisse commented, "We maintain our Outperform rating on PCLN shares and modestly raise our FX-neutral Int'l booking growth expectation to 47% versus guidance 41-46% on better-than-expected hotel inventory growth and EU ADRs, offset by FX. With volume continuing to account for the vast majority of PCLN's GTB growth, our share gain investment thesis remains unchanged and we remain buyers."
Priceline.com closed at $655.68 on Wednesday.
Latest Ratings for PCLN
|Nov 2014||Cantor Fitzgerald||Maintains||Buy|
|Nov 2014||Deutsche Bank||Maintains||Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.