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Fly News Breaks for January 3, 2017
PCLN
Jan 3, 2017 | 16:31 EDT
Needham analyst Laura Martin initiated Priceline with a Buy and a $1,800 price target due to its market lading position, history of execution, and OTA ecosystem competitive advantages. The analyst said Priceline is the largest online travel aggregator with over 50% of the independent hotels in Europe and revenue and cost synergies come with larger inventory given conversion rates rise as supply increases.
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