Priceline.com Expected To Continue Growing, New Estimates And PT From JP Morgan

JP Morgan is establishing 2012 Estimates and a 2011 December price target for Priceline.com PCLN. In its research report, JP Morgan writes "We are establishing our 2012 estimates and December 2011 price target. We believe the company will continue to gain market share both domestically and internationally and are modeling 2011 and 2012 gross booking growth of 26% and 20%, respectively. We are maintaining our Overweight rating on Priceline and establish our December 2011 price target of $413 vs. our December 2010 price target of $328." Priceline.com closed yesterday at $348.13.