Market Overview

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

Share:
Related PCLN
Cities Where Airbnb Is Most Useful (Take Heed, Rio Olympics Attendees)
Here Are The 14 Stocks Morgan Stanley Wants You To Focus On During Q2 Earnings
Top 10 Health Care Stocks: Which To Buy? Part 3 (Seeking Alpha)

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
Jun 2016Morgan StanleyUpgradesEqual-weightOverweight
Jun 2016BarclaysUpgradesEqual-weightOverweight
May 2016BarclaysMaintainsEqualweight

View More Analyst Ratings for PCLN
View the Latest Analyst Ratings

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

 

Related Articles (PCLN)

View Comments and Join the Discussion!