PCLN Has Significant Potential To Gain Market Share
Mark S Mahaney of Citi maintains his "buy" rating on priceline.com Incorporated (NASDAQ: PCLN).
Following the annual PhoCusWright Online Travel Conference, Citi believes that the recession has accelerated the shift from offline to online travel bookings. Moreover, according to Citi, PCLN is gaining competitive/structural edge.
Based on Q3 results, priceline.com Incorporated is accounting for only 1.6% of total room nights sold during the quarter, Citi said. PCLN has significant potential to gain market share going forward as the industry is highly fragmented, Citi added.
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