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Fly News Breaks for May 4, 2016
PCLN
May 4, 2016 | 10:02 EDT
Piper Jaffray analyst Michael Olson says Priceline reported "significant Q1 upside" and that management is being conservative with the outlook for Q2. He admits, however, that the Easter shift impact is having an impact on Q2 bookings. Olson lowered his price target for Priceline shares to $1,500 from $1,540 and reiterates an Overweight rating on the name. The stock is trading down 9%, or $124.64, to $1230.00 after reporting Q1 results this morning.
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