Wedbush Has Outperform on priceline.com

Wedbush is out with a research report on priceline.com, Inc.

and it has an Outperform rating and a $675 price target on shares. Wedbush in the note writes, "We expect Priceline to report Q3 results slightly above our estimates for revenue of $1.43 billion and EPS of $9.40, and consensus for revenue of $1.42 billion and EPS of $9.30. We expect strong gross bookings of +52%, compared with Q2's +70% and Q3 2010 +47%. Q3 guidance is for revenue of $1.37–1.42 billion (+37–42%), gross bookings of +47-52%, and pro forma EPS of $9.10 - 9.30." Shares of PCLN are up $1.58 to $490.60.