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Fly News Breaks for July 29, 2016
PCLN
Jul 29, 2016 | 05:56 EDT
Piper Jaffray analyst Michael Olson says he sees potential for "strong Q2 upside" when Priceline reports results on August 4. He believes management guided Q2 "overly conservative" due to the ongoing CEO transition. The analyst, however, expects the company to issue "very conservative" Q3 guidance, which he thinks could disappoint some investors. Nonetheless, Olson views Priceline as a core long-term holding in online travel. He keeps an Overweight rating on the shares with a $1,500 price target.
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