Priceline Group Finds Resistance

shares were trading higher by $3.89 at $1,188.90 in Tuesday's session. It is trading higher for the third day in a row and for the fifth time in its last six trading sessions. Over this period, it has climbed from its March 27 close ($1135.19) to as high as $1195.00 earlier Tuesday. Monday's sharp rally was instigated by an Argus Research initiation of coverage with a Buy rating with a whopping $1,480 price target. Of course, a strong rally in the broad market may have contributed to the steep rise in its share price. See Also:

Not all the news was good for the issue on Monday as earnings estimates were cut by Evercore ISI. The firm is maintaining its Hold rating, but reduced Q1 estimates from $4.01 to $3.96. Off today's open, Priceline found resistance in a familiar area. After peaking at $1,194.46 on Monday, it rallied just beyond that level and peaked at $1,995. These two highs happen to coincide with a pair of highs from March 11 ($1,195.37) and March 12 ($1,194.55).