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PCLN

Priceline

$1,740.35

7.58 (0.44%)

08:15
12/01/17
12/01
08:15
12/01/17
08:15

Priceline downgraded to Hold at Argus on weak Q4 guidance and valuation

As reported earlier, Argus analyst John Staszak downgraded Priceline to Hold from Buy, saying shares are fairly valued around the current price level of $1,740 as the stock trades near the high-end of its five-year PE range. The analyst says the valuation is appropriate based on the company's near-term prospects, pointing to the company's latest Q4 forecast of 8%-13% bookings growth, which is below the prior view of 17%. Staszak also notes that Priceline has seen "significantly higher compensation costs" in Q3 and may face even higher expenses as it expands TV advertising for Booking.com to 18 more countries.

PCLN Priceline
$1,740.35

7.58 (0.44%)

11/07/17
MSCO
11/07/17
NO CHANGE
Target $1900
MSCO
Overweight
Priceline price target lowered to $1,900 from $2,100 at Morgan Stanley
Morgan Stanley analyst Joseph Moore pointed to Priceline's guidance and commentary as evidence of how the company is "leaning into investment" to grow its long-term earnings power and the key will now be the company's ability to execute and generate profitable growth from these investments. Noting that near-term growth rates are likely to be negatively impacted, Moore cut his price target on Priceline shares to $1,900 from $2,100 though he keeps an Overweight rating on the stock.
11/07/17
11/07/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Priceline (PCLN) downgraded to Neutral from Buy at Guggenheim. 2. Exxon Mobil (XOM) downgraded to Reduce from Hold at HSBC with analyst Gordon Gray saying he compares Exxon's valuation to Buy rated Shell's (RDS.A) saying it is a third higher, yet Shell generated $7B more underlying cash flow in the past 12 months, and he thinks Exxon's capex will rise by much more in 2018 in comparison. 3. Teva (TEVA) downgraded to Reduce from Hold at HSBC with analyst Steve McGarry saying the balance sheet is "over-stretched." 4. Cabot Oil & Gas (COG) downgraded to Hold from Buy at Drexel Hamilton with analyst Bob Christensen citing the temporary stay issued on the Atlantic Sunrise pipeline. 5. SMIC (SMI) downgraded to Underperform from Neutral at Credit Suisse. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/07/17
SUSQ
11/07/17
NO CHANGE
SUSQ
TripAdvisor price target lowered to $28 from $32 at Susquehanna
Susquehanna analyst Shyam Patil believes Priceline's (PCLN) "downstream impact" will continue to weight on TripAdvisor (TRIP), and lowered his price target on TripAdvisor to $28 from $32. Patil, who also noted that TripAdvisor's third quarter revenue missed the firm's expectations, maintained a Neutral rating on TripAdvisor shares.
12/01/17
ARGS
12/01/17
DOWNGRADE
ARGS
Hold
Priceline downgraded to Hold from Buy at Argus

TODAY'S FREE FLY STORIES

BT

BT Group

$18.04

-0.0501 (-0.28%)

11:49
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UHT

Universal Health Realty

$75.28

1.705 (2.32%)

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CERN

Cerner

$70.36

0.23 (0.33%)

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CACC

Credit Acceptance

$326.25

3.97 (1.23%)

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CSGP

CoStar Group

$287.83

-2.67 (-0.92%)

11:33
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Conference/Events
CoStar Group management to meet with Needham »

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ROG

Rogers Corporation

$158.59

1.4 (0.89%)

11:30
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Conference/Events
Rogers Corporation management to meet with Needham »

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  • 13

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ROG

Rogers Corporation

$158.89

1.7 (1.08%)

11:29
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11:29
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Conference/Events
Rogers Corporation management to meet with B. Riley FBR »

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HDP

Hortonworks

$19.76

0.18 (0.92%)

11:25
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Conference/Events
Hortonworks management to meet with Needham »

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  • 13

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CACC

Credit Acceptance

$326.25

3.97 (1.23%)

11:20
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Credit Acceptance moves lower following short report from PlainSite »

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$NSD

NASDAQ Market Internals

11:17
12/13/17
12/13
11:17
12/13/17
11:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

11:16
12/13/17
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Technical Analysis
NYSE market internals summary »

Volume is average for…

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RL

Ralph Lauren

$96.15

-3.99 (-3.98%)

11:13
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12/13
11:13
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Ralph Lauren falls after Bofa/Merrill downgrade cites 'dimming' margin story »

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TGT

Target

$61.58

0.555 (0.91%)

11:10
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Hot Stocks
Target: Shipt to continue to run business independently post-acquisition »

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TMUS

T-Mobile

$63.48

0.41 (0.65%)

, T

AT&T

$37.75

-0.35 (-0.92%)

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Hot Stocks
Cable, telecom stocks dip as T-Mobile plans to bring 'un-carrier' to TV »

T-Mobile (TMUS) is…

TMUS

T-Mobile

$63.48

0.41 (0.65%)

T

AT&T

$37.75

-0.35 (-0.92%)

ROKU

Roku

$46.95

-1.03 (-2.15%)

CMCSA

Comcast

$39.51

1.07 (2.78%)

CMCSK

Comcast

CHTR

Charter

$329.99

-1.5 (-0.45%)

VZ

Verizon

$52.82

-0.375 (-0.71%)

03/08/13
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  • 13

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LITE

Lumentum

$51.75

-1.75 (-3.27%)

, FNSR

Finisar

$19.30

-0.51 (-2.57%)

11:09
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Recommendations
Lumentum, Finisar, Apple analyst commentary  »

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LITE

Lumentum

$51.75

-1.75 (-3.27%)

FNSR

Finisar

$19.30

-0.51 (-2.57%)

AAPL

Apple

$171.70

-0.97 (-0.56%)

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NFLX

Netflix

$185.73

-0.49 (-0.26%)

11:09
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Periodicals
Netflix executive fired over Masterson assault comments, Page Six says »

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TGT

Target

$61.64

0.62 (1.02%)

11:06
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Technical Analysis
Technical View: Target spikes after acquiring Shipt for $550M »

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TGT

Target

$61.70

0.68 (1.11%)

11:02
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Breaking Hot Stocks news story on Target »

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TGT

Target

$61.69

0.67 (1.10%)

11:01
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Hot Stocks
Breaking Hot Stocks news story on Target »

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TGT

Target

$61.72

0.71 (1.16%)

11:01
12/13/17
12/13
11:01
12/13/17
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Hot Stocks
Target to buy same-day delivery platform Shipt for $550M in cash »

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AYI

Acuity Brands

$165.44

-8.79 (-5.05%)

10:59
12/13/17
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Technical Analysis
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  • 05

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10:52
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Conference/Events
Jefferies software/cybersecurity analyst holds analyst/industry conference call »

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VIPS

Vipshop

$8.30

0.115 (1.41%)

10:50
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Options
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