Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Piper Jaffray Downgrades

Piper Jaffray downgrades (PCLN) to market perform from outperform.

Analyst Aaron Kessler says while the company's first-quarter was essentially in line with estimates, he's concerned with the declining growth rates of the domestic online travel market.

He also notes while has been largely immune due to new product offerings and differentiated offering, he believes it will become increasingly difficult for it to outperform the market, especially as it anniversaries its product enhancements.

Kessler lowered his rating over slowing growth and belief that the shares are fully valued, and trimmed his $30 target to $29. He says earnings per share estimates essentially are unchanged due to lower-than-anticipated operating expenses and a lowered effective tax rate.

blog comments powered by Disqus