Cantor Fitzgerald analyst Naved Khan came out with a research report on Priceline Group Inc (NASDAQ:PCLN) after performing checks on the company’s global search traffic. Khan maintained a Buy rating on the stock with a price target of $1360, which represents a potential upside of 23% from where the stock is currently trading.
Khan observed that his checks on global Search traffic to Booking.com and other Priceline brands through the end of June, coupled with higher European hotel room rates (FX-neutral) and a robust pace of new property additions (on both hotels and vacation rentals) suggest that Priceline’s 2Q:15 bookings are tracking at and/or above the upper end of management’s guidance and his firm’s expectations.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Naved Khan has a total average return of 22.5% and a 69.6% success rate. Khan has a 22.2% average return when recommending PCLN, and is ranked #212 out of 3684 analysts.