The firm reduced the price target for the online travel agency company to $1,450, down from its previous mark of $1,550.
Credit Suisse set 12-month EPS estimates at $52.67 from $53.40 for fiscal 2014, at $56.09 from $68.40 for fiscal 2015, and at $84.30 from $69.04 for fiscal 2016.
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The firm said it lowered Priceline Group's estimates given the company's exposure to Europe.
"While the incremental offline ad-spend does imply deleverage, given PCLN's discipline, in a downside scenario if sufficient [return on investment] is not achieved the spend would be discontinued, while in a best-case scenario could lead to incremental topline growth," said Credit Suisse analyst Dean Prissman.
Shares of Priceline Group are down 0.27% to $1,094.79 in afternoon trading.
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 the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."