Benchmark Raises PCLN Target From $466 To $504

Benchmark is raising its PT on priceline.com Inc. PCLN from $466 to $504. “priceline.com appears well-positioned to benefit from the steady, ongoing recovery in travel demand with solid growth in the US and Western Europe through Priceline.com and Booking.com augmented by rapid expansion in Eastern Europe, South America and the APAC region through Agoda,” Benchmark writes. “We forecast Priceline may show a 30% y/y bookings gain, 35% y/y EBITDA growth and $18 in EPS in 2011 despite challenging comparisons.” priceline.com Inc. closed Friday at $448.93.