FBR Capital Markets Says Accelerating Listings Growth Bodes Well for Priceline.com in 4Q
In a report published Tuesday, FBR Capital Markets analyst Jake Fuller reiterated an Outperform rating and $1,300.00 price target on Priceline.com (NASDAQ: PCLN).
In the report, FBR Capital Markets noted, “Our latest survey shows accelerating growth at Booking.com and that bodes well for 4Q and should increase confidence in Priceline's ability to sustain growth. Highlights: (1) hotel count on Booking.com has already exceeded our 4Q estimate with a month left to go; (2) the incremental hotels above our target could potentially be worth $0.15 to 4Q EPS, and (3) accelerating growth in listings should help ease concern over whether Priceline has hit the wall.”
Priceline.com closed on Monday at $1,188.50.
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