Priceline (PCLN) Receives Wave of Bullish Support Following Q4
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Price: $25.83 -2.2%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Shares of Priceline.com Inc. (NASDAQ: PCLN) are up $28.63 or 6.76 percent to $454.53 in midday market movement on Thursday following the company fourth-quarter results and a slew on bullish analysts showing support.
The online travel booking provider topped Wall Street estimates by 30 cents with its earnings of $3.40 per share in the fourth-quarter, while revenue in the period jumped 35 percent to $731 million.
Priceline also showed strong improvement in gross travel bookings and international revenue in the quarter.
Looking forward, Priceline sees first-quarter adjusted earnings in the range of $2.34-$2.44 per share, which does not compare to the consensus of $2.31 per share.
Priceline received a barrage of price target increases including:
Analyst Comments:
Deutsche Bank maintains a Buy rating on Priceline, saying "Priceline continues to execute on its plan of dominating the international hotel market, with a strong foothold of now 120,000 properties worldwide. Growth remains in penetration of European hotels (lags about 10% behind US penetration rates), new regions (Asia, South America) and new service expansions (rental cars). We continue to view Priceline as a core holding in the Internet sector."
Bank of America said Priceline continues to be the "best internatinoal play in internet sector."
Monness, Crespi, Hardt upgraded Priceline from Neutral to Buy on Thursday following the fourth-quarter results
The online travel booking provider topped Wall Street estimates by 30 cents with its earnings of $3.40 per share in the fourth-quarter, while revenue in the period jumped 35 percent to $731 million.
Priceline also showed strong improvement in gross travel bookings and international revenue in the quarter.
Looking forward, Priceline sees first-quarter adjusted earnings in the range of $2.34-$2.44 per share, which does not compare to the consensus of $2.31 per share.
Priceline received a barrage of price target increases including:
- Susquehanna from $496 to $600 (new Street high)
- Citigroup from $540 to $575
- Piper Jaffray from $471 to $552
- Caris & Co. from $470 to $525
- ThinkEquity from $530 to $580
- RBC from $450 to $565
- Morgan Keegan from $475 to $570
- Goldman Sachs from $475 to $525
- Deutsche Bank from $490 to $540
- Benchmark from $504 to $570
- Canaccord Genuity from $485 to $495
Analyst Comments:
Deutsche Bank maintains a Buy rating on Priceline, saying "Priceline continues to execute on its plan of dominating the international hotel market, with a strong foothold of now 120,000 properties worldwide. Growth remains in penetration of European hotels (lags about 10% behind US penetration rates), new regions (Asia, South America) and new service expansions (rental cars). We continue to view Priceline as a core holding in the Internet sector."
Bank of America said Priceline continues to be the "best internatinoal play in internet sector."
Monness, Crespi, Hardt upgraded Priceline from Neutral to Buy on Thursday following the fourth-quarter results
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