Deutsche Bank Raises PT On PCLN To $625

Deutsche Bank has raised its price target from $540 to $625 on Priceline.com PCLN following growth in 1Q. In the report, Deutsche Bank writes, “We reiterate our BUY investment rating on shares of Electronic Arts, and raise our 12-month price target from $540 to $625. The secular growth continues at the company, as evidenced by room night growth of 56% Y/Y. We think this robust growth in volumes will likely continue in the future, which should help to re-value the shares on a higher earnings multiple. While growth has largely been driven by Europe, we think that Asia-Pacific continues to ramp up against global growth.” Deutsche Bank, as mentioned above, Is reiterating its Buy rating on the stock. PCLN closed yesterday at $533.97.