Piper Jaffray Maintains Overweight on Priceline.com (PCLN)

Piper Jaffray is out with its report today on Priceline.com PCLN, maintaining Overweight. In a note to clients, Piper Jaffray writes, "Priceline continues to benefit from an ongoing shift to online and indirect bookings internationally. Priceline is the OTA most leveraged to international travel, with more than 70% of bookings outside the US; higher international exposure is favorable given a less saturated market for online travel." Piper Jaffray has a $552 PT on PCLN. Shares of PCLN closed Friday at $506.82, down 0.40% from Thursday's close.