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Fly News Breaks for May 10, 2017
PCLN
May 10, 2017 | 07:53 EDT
Credit Suisse analyst Paul Bieber lowered his price target for Priceline to $2020 from $2050 following mixed Q1 results, with the EPS upside and strong room night growth offset by a disappointing Q2 room night growth and EPS outlook. The analyst thinks seasonal factors, investments across the business to support growth, marketing deleverage and usual Priceline conservatism are the main drivers of the Q2 outlook. The analyst reiterates an Outperform rating on the shares.
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