Piper Jaffray Reiterates Overweight Rating, Raises Price Target On Priceline (PCLN)

Priceline.com PCLN reported a blowout quarter yesterday after the close which has sent the stock skyrocketing 22% during Wednesday's trading session. In light of the company's earnings results, analysts at Piper Jaffray have raised their price target on the stock from $295 to $308. The firm has an Overweight rating on PCLN shares. The analysts wrote that "Strong international growth resulted in Q2 upside and Q3 guide above consensus. After providing softer than expected Q2 guidance, due to multiple uncertainties in Europe, the company appears to have come through the quarter unscathed and optimistic about Q3."