UPDATE: Susquehanna Raises PT on Priceline.com on Long-Term Upside
In a report published Monday, Susquehanna International Group analyst Brian Nowak reiterated a Positive rating on Priceline.com (NASDAQ: PCLN), and raised the price target from $1,135.00 to $1,200.00.
In the report, Susquehanna International Group noted, “Our industry conversations indicate PCLN has continued its aggressive attack on the U.S. and Express Deals and Booking.com were again notably strong in 3Q. As such, we raise our U.S. room night estimates by 5% and 13% in '13 and '14, respectively. PCLN is rapidly growing and taking share in the U.S., but we still only model it to reach 11% of the U.S. online hotel market by '14, which speaks to the long-term upside.”
Priceline.com closed on Friday at $1,048.25.
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