Goldman Sachs Reiterates Buy Rating on Priceline.com on Favorable Risk/Reward
In a report published Friday, Goldman Sachs analyst Heath P. Terry reiterated a Buy rating and $1,200.00 price target on Priceline.com (NASDAQ: PCLN).
In the report, Goldman Sachs noted, “We believe the risk/reward for owning Priceline is favorable given the multiple angles of dislocation in the sector, accelerating growth, and better-than-expected ad ROI in 1H, which we believe are more indicative of PCLN's position in the travel sector. With PCLN trading roughly in line with the group despite faster growth, we believe the opportunity remains favorable and maintain our Buy rating.”
Priceline.com closed on Thursday at $938.79.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.