UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Priceline.com

In a report published Wednesday, Credit Suisse reiterated its Outperform rating on Priceline.com

, and raised its price target from $727.00 to $806.00. Credit Suisse noted, “We maintain our Outperform rating on PCLN shares and raise our target from $727 to $806 as we roll forward our valuation methodology to use 2013 estimates. With macroeconomic headwinds in Southern Europe continuing to exert pressure on priceline's near-term growth rate and multiple, we continue to believe PCLN shares at current levels presents an opportunity to either add to or initiate new positions.” Priceline.com closed on Tuesday at $597.77.