Morgan Stanley Upgrades Priceline Group Inc to Overweight

Brokerage firm Morgan Stanley Upgrades its rating on Priceline Group Inc(NASDAQ:PCLN). In a research note issued to the investors, the brokerage major Raises the price-target to $1.52K per share. The shares have been rated Overweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Morgan Stanley was issued on Jun 30, 2016.

In a different note, On Jun 22, 2016, Barclays said it Upgrades its rating on Priceline Group Inc. The shares have been rated ‘Overweight’ by the firm. On May 13, 2016, Barclays said it Maintains its rating on Priceline Group Inc. The shares have been rated ‘Equalweight’ by the firm. On May 5, 2016, Credit Suisse said it Maintains its rating on Priceline Group Inc. The shares have been rated ‘Outperform’ by the firm. On May 5, 2016, JMP Securities said it Maintains its rating on Priceline Group Inc. The shares have been rated ‘Market Outperform’ by the firm. On May 5, 2016, Cantor Fitzgerald said it Maintains its rating on Priceline Group Inc. The shares have been rated ‘Buy’ by the firm. On May 5, 2016, RBC Capital said it Maintains its rating on Priceline Group Inc. The shares have been rated ‘Outperform’ by the firm.

Priceline Group Inc (PCLN) made into the market gainers list on Tuesdays trading session with the shares advancing 0.60% or 7.66 points. Due to strong positive momentum, the stock ended at $1275.03, which is also near the day’s high of $1275.05. The stock began the session at $1259.56 and the volume stood at 5,68,815 shares. The 52-week high of the shares is $1476.515 and the 52 week low is $954.02. The company has a current market capitalization of $63,292 M and it has 4,96,39,381 shares in outstanding.

Priceline Group Inc(PCLN) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.15B. Analysts had an estimated revenue of $2.12B. Earnings per share were $10.54. Analysts had estimated an EPS of $9.66.

Several Insider Transactions has been reported to the SEC. On May 18, 2016, Gillian Tans (President & CEO, Booking.com) sold 131 shares at $1,281.95 per share price.Also, On May 12, 2016, Jeffery H Boyd (Interim CEO & President) sold 166 shares at $1,261.54 per share price.On Mar 18, 2016, Daniel J Finnegan (Chief Financial Officer) sold 5,871 shares at $1,341.93 per share price, according to the Form-4 filing with the securities and exchange commission.

The Priceline Group Inc. is a provider of online travel and travel related reservation and search services. The Company through its online travel agent (OTA) services connects consumers wishing to make travel reservations with providers of travel services across the world. The Company’s brands include Booking.com KAYAK agoda.com rentalcars.com and OpenTable. The Company offers consumers accommodation reservations including hotels bed and breakfasts hostels apartments vacation rentals and other properties through its Booking.com priceline.com and agoda.com brands. Its priceline.com brand also offers consumers reservations for rental cars airline tickets vacation packages and cruises. The Company offers rental car reservations through its Website rentalcars.com. The Company also provides an online price comparison service from various travel Websites through KAYAK. OpenTable provides its services to consumers and reservation management services to restaurants.

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