Will This Upgrade Help Priceline.com (PCLN) Today? (Update)

Update (9:55 a.m.): Updated with Wednesday market open information.

NEW YORK (TheStreet) -- Jefferies raised its target price on Priceline.com  (PCLN) to $1,475, raised its estimates and set a "buy" rating. The firm noted stable growth in the Americas and improvement in Europe.

"Global travel trends remain choppy but we are encouraged by continuing improvement in Europe and stable growth in the Americas," Jefferies wrote in a research note. "While seasonally soft, 4Q13 shapes up to be a good quarter for OTAs. We expect another beat quarter from Priceline (our top OTA pick) on solid unit growth. We also believe that guidance was conservative again and that sustained int'l growth keeps driving strong results."

The stock was flat at $1,301 shortly after the market opened on Wednesday.


Separately, TheStreet Ratings team rates PRICELINE.COM INC as a "buy" with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate PRICELINE.COM INC (PCLN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

If you liked this article you might like

Stormy Skies Make for Good Travel Buys

Stormy Skies Make for Good Travel Buys

Travel Stocks Face a Rough Journey

Debt Ceiling Progress Boosts Stocks, but Hurricane Irma Rains on Major Rally

Stocks Gain After Trump Agrees With Democrats on Debt Ceiling Deal