Oppenheimer analyst Jed Kelly raised his price target for Priceline to $2,000 from $1,860 as he believes over 20% room-night growth is achievable over the medium-term based on low occupancy share of existing properties, improving software facilitating more traditional vacation rentals transitioning to instantly bookable, and leading APAC/China exposure. Despite Priceline operating at significant scale and facing tougher second-half room-night comps, the analyst remains confident in the company's ability to drive mid-teens earnings growth while maintaining its low-20s forward P/E multiple. He reiterates an Outperform rating on the shares.