Market Overview

UPDATE: JP Morgan Raised PT to $835 on; Higher Bookings Offset Lower Margins

Related PCLN
Fast Money Traders Share Their Picks Ahead Of Holiday
TripAdvisor's Exclusivity Deal With Priceline: Expedia Just Spilled The Beans
Priceline's Price Drop Is Just A Correction (Seeking Alpha)

JP Morgan maintained (NASDAQ: PCLN) with an Overweight rating and raises the price target from $740.00 to $835.00.

JP Morgan commented, "We continue to like the trade-off of lower margins for higher top-line growth given Priceline's large overall market opportunity, and also considering the company's large base and competitive operating environment. We believe Priceline is likely to see ~260 bps of EBITDA margin compression in 2013, but bookings that could continue to accelerate in 1H13 should more than offset this pressure, driving PF EPS higher. We're encouraged by Priceline's performance in a more challenging operating environment and also note the company faces easier comps over the next couple of quarters. We believe further bookings acceleration could drive multiple expansion going forward." closed at $678.49 on Tuesday.

Latest Ratings for PCLN

Nov 2015Stifel NicolausDowngradesHold
Nov 2015Deutsche BankDowngradesBuyHold
Sep 2015RedburnInitiates Coverage onBuy

View More Analyst Ratings for PCLN
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings


Related Articles (PCLN)

View Comments and Join the Discussion!

Get Benzinga's Newsletters