NEW YORK (TheStreet) -- Shares of Priceline Group (PCLN) are down 1.26% to $1,065 in pre-market trading after Goldman Sachs removed the company from its "Americas Conviction Buy List," while maintaining its "buy" rating with a price target of $1,400.
"We are removing Priceline from the Conviction List as the multi-year declines in the euro expected by GS Macro will likely limit out performance in the stock," analysts said about the Connecticut-based online travel company.
"We remain buy-rated, with the shares at 17x 2015E PF EPS as we believe Priceline will continue to outgrow the broader online travel market as mobile usage and metasearch drive share consolidation and margin benefits with it," analysts noted.
"Since being added to the Americas Conviction List on November 20, 2013, the shares are down 4% versus the S&P up 11% as the macro environment in Europe failed to see the recovery we expected at the beginning of the year," analysts added.
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, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."