Soleil Securities analyst Jake Fuller this morning raised his rating on Priceline (PCLN) to Buy from Hold, noting that the online travel agency’s shares have been “caught up in the macro storm.” Fuller writes in a research note that he has little visibility on what will transpire in Europe, but contends that Priceline nonetheless is a growth story with excellent management – and now offers a favorable risk-reward profile.
Fuller cut his price target on the stock to $230 from $250, and trimmed his EPS estimates. But he says that the stock has pulled back enough to compensate for the added risk.
PCLN is up $5.21, or 2.7%, to $196.45.
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