NEW YORK (TheStreet) -- Priceline Group (PCLN) shares had coverage initiated with a "buy" rating and $1600 price target by analysts at Stifel Nicolaus (SF) on Wednesday.
The new price target represents a 22.7% upside from the company's opening price today.
Priceline Group shares are down -0.5% to 1,288.15 in early market trading despite the positive ratings however due to the company reporting second quarter room-night growth that slowed to 29% from 32%. This is the second consecutive quarter growth has slowed for the travel booking company.
EXCLUSIVE OFFER: See inside Jim Cramer’s multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.
Separately, TheStreet Ratings team rates PRICELINE GROUP INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate PRICELINE GROUP 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, notable return on equity, expanding profit margins and good cash flow from operations. 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: