Priceline.com Inc. (PCLN) Stock Downgraded
Shares of online travel service Priceline.com Inc. declined after a Thomas Weisel Partners analyst downgraded the stock to "Market Perform" now that its value has surpassed his price target.
Priceline shares shed $1.76, or 2 percent, to $88.11 in afternoon trading.
In a note to clients late Wednesday, Thomas Weisel analyst Jake Fuller downgraded the shares to "Market Perform" from "Market Outperform" but raised his price target to $92 from $82.
The analyst said Priceline's shares have already passed his prior 12-month target price, and he thinks the company could report results ahead of predictions in its third quarter. However, he noted that expectations for Priceline are quite high.
Priceline shares shed $1.76, or 2 percent, to $88.11 in afternoon trading.
In a note to clients late Wednesday, Thomas Weisel analyst Jake Fuller downgraded the shares to "Market Perform" from "Market Outperform" but raised his price target to $92 from $82.
The analyst said Priceline's shares have already passed his prior 12-month target price, and he thinks the company could report results ahead of predictions in its third quarter. However, he noted that expectations for Priceline are quite high.
Labels: PCLN, Priceline.com Inc.
posted by Stock Administrator @ 3:31 PM
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