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Fly News Breaks for February 13, 2017
PCLN
Feb 13, 2017 | 08:06 EDT
Evercore ISI analyst Ken Sena expects Priceline to report a solid Q4 of adjusted EBITDA of 830M, or 2% above Street expectations, and $2.24B in profit, or 1% above consensus. Sena is taking a more conservative view on Q1 guidance due to Easter falling in the second quarter, 400bps more of challenging room night growth, and incremental foreign exchange headwinds. The analyst trimmed his Q1 bookings/gross profit 3%/5% to $19.4B, and $2.32B, respectively, which flows through to a 5% adj. EBITDA reduction now at $664M. Sena rates Priceline a Buy with a $1,850 price target.
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