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Fly News Breaks for February 26, 2018
PCLN
Feb 26, 2018 | 08:15 EDT
MKM Partners analyst Rob Sanderson keeps his Neutral rating and $1,850 price target on Priceline ahead of tomorrow's earnings. Sanderson notes that while the stock has risen 11% since December on favorable FX conditions and the positive tax impact, the set-up for earnings is not attractive because Priceline trades at the midpoint of its post-recession valuation range and bookings growth is at all-time lows. The analyst keeps his Neutral rating on Priceline, warning that bookings could decelerate even further.
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