Market Overview

UPDATE: Ascendiant Capital Markets Raises PT on Priceline.com on Strong Q4 Results, Q1 Guidance

Share:
Related PCLN
Options Outlook: Market In 'Headline' And 'Sentiment' Mode
Ctrip.com Hits 52-Week High On Priceline News
Baidu's Qunar Rejects Ctrip Offer, Doubles Revenue (Investor's Business Daily)

In a report published Wednesday, Ascendiant Capital Markets reiterated its Buy rating on Priceline.com (NASDAQ: PCLN), and raised its price target from $870.00 to $875.00.

Ascendiant Capital Markets noted, “Maintaining our BUY rating but raising our 12-month price target to $875 from $870, which reflects a forward P/E of 23x our 2013 EPS estimate of $38.10. This P/E multiple is in line with the peer group median of 23x for online travel companies to reflect our expectations for Priceline to grow earnings at least in line with the rate of its peers over the next several years. We believe this also appropriately balances out the company's risks with the company's high growth prospects.”

Priceline.com closed on Tuesday at $678.49.

Latest Ratings for PCLN

DateFirmActionFromTo
May 2015Guggenheim SecuritiesInitiates Coverage onNeutral
Apr 2015Argus ResearchInitiates Coverage onBuy
Mar 2015Stifel NicolausUpgradesHoldBuy

View More Analyst Ratings for PCLN
View the Latest Analyst Ratings

Posted-In: Ascendiant Capital MarketsAnalyst Color Price Target Analyst Ratings

 

Related Articles (PCLN)

Around the Web, We're Loving...