uploads///ANR

What Analysts Recommend for Priceline after 3Q17 Results

By

Dec. 4 2020, Updated 10:52 a.m. ET

Analyst recommendations

Of the 31 analysts rating Priceline’s stock after the company’s 3Q17 earnings report, 19.4% (six analysts) have issued a “strong buy” rating and 58.1% (18 analysts) have issued a “buy” rating. The remaining 22.6% (seven analysts) have issued a “hold” rating. None of the analysts have issued a “sell” or “strong sell” rating for the stock.

Article continues below advertisement

Analyst upgrades

Almost 11 brokerage firms have reduced their target price for the company after the third quarter earnings report. UBS cut its target price to $2,000 from $2,100. Oppenheimer has cut its price target to $1,950 from $2,100‍. Wells Fargo has cut its price target to $1,800 from $1,900. Credit Suisse has cut its target price to $2,000 from $2,070. Deutsche Bank has cut its price target to $1,825 from $2,050. Stifel has cut its target price to $2,000 from $2,100. Suntrust Robinson has reduced its target price to $2,000 from $2,200 but maintained its “buy” rating. Citigroup has reduced its target price to $2,050 from $2,190. Cowen and Company has reduced its target price to $2,170 from $2,250. Moffett Nathanson has reduced its target price to $1,775 from $1,850. Barclays has reduced its target price to $2,050 from $2,150. Morgan Stanley has reduced its price target to $1,900 from $2,100.

Target price

The consensus 12-month target for PCLN’s stock price is $2,001.25, which indicates a 20.5% return potential from the November 8 closing price of $1,661.1. The current target is lower than the $2,106.6 target before the third-quarter earnings.

Consensus target prices for other online travel players are as follows.

  • Expedia (EXPE) has a 12-month target price of $154.2 with a return potential of 28.6%.
  • TripAdvisor (TRIP) has a 12-month target price of $33.9 with a return potential of 13%.
  • Ctrip.com (CTRP) has a 12-month target price of $56.8 with a return potential of 22.7%.

Next, we end the series with an analysis of Priceline’s current valuation. Investors can gain exposure to Priceline stock by investing in the PowerShares Dynamic Large Cap Growth Portfolio (PWB), which invests ~3.2% of its portfolio in the stock.

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.