In a research report released Friday, Cantor analyst Naved Khan reiterated a Buy rating on shares of Priceline Group Inc (NASDAQ:PCLN), while slightly raising the price target to $1560 (from $1,510), after the online travel giant reported solid second-quarter results that blew away expectations, posting EPS and EBITDA of $13.93 and $867 million, topping consensus’ estimates of $12.67 and $808 million, respectively.

Khan commented, “PCLN reported solid 2Q results that topped Street expectations and were driven by strong growth in room nights. The 3Q outlook brackets consensus expectations, and mgt’s commentary points to strong business momentum despite a challenging macro backdrop. Given its rich and fast-growing property selection, brand recognition and execution history, we believe the company will likely continue to see healthy growth trends over the near/medium term and gain market share. While the inflation in variable ad spend is a concern and the trend is likely to continue for the foreseeable future, we expect it to be more than offset by leverage in fixed costs over time as the business scales. We remain constructive on the name and maintain our BUY rating.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Naved Khan has a yearly average return of 19.3% and a 81% success rate. Khan has a 20.6% average return when recommending PCLN, and is ranked #87 out of 4090 analysts.

Out of the 22 analysts polled by TipRanks, 16 rate PCLN stock a Buy, while 6 rate the stock a Hold. With a return potential of 7%, the stock’s consensus target price stands at $1522.11.

Shares of Priceline are currently trading at $1,421.42, up $61.43 or 4.52%.