Market Overview

UPDATE: Deutsche Bank Raises PT on Priceline.com on Solid Bookings Growth

Share:
Related PCLN
Redburn Touts Double In Priceline Over The Next Three Years
Cantor Fitzgerald: What To Do With Internet Stocks Now
Priceline Buys AS Digital to Boost Online Booking Business (Zacks)

In a report published Wednesday, Deutsche Bank reiterated its Hold rating on Priceline.com (NASDAQ: PCLN), and raised its price target from $710.00 to $745.00.

Deutsche Bank noted, “Priceline reported gross profit and EBITDA 0% and 1.6% above our estimates after adjusting out charges, and within the guided range for the second time in the last three years (every other quarter handily exceeded the high end). The company is seeing solid bookings growth, but similar to EXPE, PCLN's business model is deleveraging from lower marketing ROI and mix to lower margin international regions. We don't expect these trends to reverse course, which is limiting the flow through from the increased hotel volumes. We have raised our 2013 EBITDA by 4%, shares remain Hold rated.”

Priceline.com closed on Tuesday at $678.49.

Latest Ratings for PCLN

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

View More Analyst Ratings for PCLN
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (PCLN)

View Comments and Join the Discussion!

Get Benzinga's Newsletters