UPDATE: Credit Suisse Reiterates on Priceline.com Ahead of Expected Share Gain Momentum
In a report published Tuesday, Credit Suisse analyst Dean Prissman reiterated an Outperform rating on Priceline.com (NASDAQ: PCLN), and raised the price target from $1,200.00 to $1,250.00.
In the report, Credit Suisse noted, “PCLN remains an open-ended growth story, and we expect share gain momentum to continue as: (1) scale, coupled with the fragmented EU hotel landscape, provides a structural moat around the core Booking franchise; and (2) PCLN successfully exports its playbook globally. We detail new deep-dive work on PCLN's opportunities within the China outbound tourism and US markets that gives us greater confidence in our long-term forecasts.”
Priceline.com closed on Monday at $1,087.09.
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