Deutsche Bank analyst Lloyd Walmsley raised his price target for Priceline to $2,045 but keeps a Hold rating on the shares ahead of the company's Q4 results. He sees investor expectations as "slightly elevated" into the print given "strong (but unreliable)" third-party data, optimism around guidance for room nights and profitability, share buybacks, and "complacency" around Google Travel risk. The analyst expects a "meaningful step up" in the pace of share buybacks in 2018 post tax reform. Walmsley, however, sees more attractive risk/reward scenarios in other large cap Internet names.