UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Priceline.com on Solid Q4, Accelerating Trends

In a report published Wednesday, Jefferies reiterated its Buy rating on Priceline.com

, and raised its price target from $780.00 to $820.00. Jefferies noted, “Priceline reported solid Q4 on accelerating hotel and car rental unit growth. All key geographies performed well (including better-than-expected showing from Europe). We are increasing slightly our estimates and setting a new PT of $820.” Priceline.com closed on Tuesday at $678.49.