The investment bank cited Priceline's Booking.com business, ongoing strength in international markets, the potential for a modest European recovery and its recent surprise deal for Kayak (KYAK) as positives.
Set against this backdrop, BofA Merrill Lynch raised its Priceline price objective to $770 from $690.
The upgrade helped lift Priceline's stock during Thursday's trading. Shares of the Norwalk, Conn.-based firm were up 2.38% to $653.62 in early afternoon trading, easily outpacing Nasdaq's gain of 0.03%. The stock also crossed its 200-day moving average of $648.54."We see more near-term potential to 2013 estimates than
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