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Fly News Breaks for June 30, 2016
PCLN
Jun 30, 2016 | 06:35 EDT
Morgan Stanley analysts led by Brian Nowak upgraded Priceline to Overweight and raised its price target to $1,525 from $1,330. The analyst sees improving ad efficiency driving increased profitability and material market share gains in alt. accommodations. Nowak sees a more rational ad environment resulting in margin improvement and raised 2017 room nights by 2%, with alt. accommodations set to grow 34% 2015-2018 CAGR, driving bookings growth to 28.5%.
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