Market Overview

UPDATE: Credit Suisse Reduces PT to $820 on Priceline.com on FX Pressure

Related PCLN
Momentum Stocks Showing Weakness
Trade Options With Caution; The Bulls Are Not Convincing
Tech M&A Surges in 2Q (Fox Business)

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

DateFirmActionFromTo
Sep 2014Evercore PartnersDowngradesOverweightEqual-weight
Aug 2014Stifel NicolausInitiates Coverage onBuy
Aug 2014Pacific CrestMaintainsOutperform

View More Analyst Ratings for PCLN
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (PCLN)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters