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Fly News Breaks for January 5, 2016
PCLN
Jan 5, 2016 | 09:27 EDT
As previously reported, Raymond James analyst Justin Patterson downgraded Priceline to Outperform from Strong Buy and reduced his price target to $1,350 from $1,560 on shares. Patterson believes multiple expansion will be constrained due to macro concerns and the perceived Airbnb threat but believes the company remains well positioned for 15% or greater top and bottom line growth.
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