Bloomberg Anywhere Login

Bloomberg

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.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Piper Jaffray Ups Priceline.com to Outperform


Piper Jaffray upgrades Priceline.com (PCLN) to outperform from market perform, citing the increasing mix of the company's high-growth international operations.

Analyst Aaron Kessler says those operations now account for 34% of the company's total gross profits. He also cites stabilization in Priceline's domestic business and attractive valuation at 8.5 times his new 2006 earnings before interest taxes depreciation and amortizaiton, or EBITDA, estimate. He sees upside to his $1.62 2006 earnings per share estimates. He also notes that Priceline set a $50 million share buyback. Even after a strong opening, he would still be an aggressive buyer of the stock as he believes investors will begin to appreciate Priceline's strong international position and potential for upside. He raises his $1.27 2005 earnings per share estimate to $1.37 and his $28 12-month stock price target to $30.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus