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Stock Update (NASDAQ:PCLN): Charles H. Noski Named to The Priceline Group’s Board of Directors


The Board of Directors of The Priceline Group Inc. (NASDAQ:PCLN) announced that it has named Charles (“Chuck”) Noski, Board Director of Microsoft Corporation, Avon Products, Inc., and the National Association of Corporate Directors, as The Priceline Group’s newest Director, effective March 1, 2015.

In 2012, Mr. Noski retired from the role of Vice Chairman of Bank of America Corporation, to which he was named after serving as the company’s Executive Vice President and Chief Financial Officer.  Prior to this,Mr. Noski served as Chief Financial Officer, Corporate Vice President and Director of Northrop Grumman Corporation. Prior to Northrop Grumman, he was Vice Chairman of the Board of Directors and Chief Financial Officer of AT&T Corporation. Before that, Mr. Noski led Hughes Electronics Corporation (now The DIRECTV Group) in various senior executive roles, including President and Chief Operating Officer. Mr. Noski began his career at Deloitte & Touche LLP where he was named Partner.

“Chuck Noski has an extensive background in Operations, Strategy, and Finance at some of the world’s leading B2C and B2B brands,” said Jeff Boyd, Chairman of The Priceline Group.  “His perspective will bring immense value to our Board of Directors as we continue to expand our international footprint and respond to new technologies and changing consumer behaviors. We are very excited to welcome Chuck to the Company.”

“The Priceline Group is a world leader in its space, operating six major brands across 200 global markets,” said Noski. “There are still so many opportunities for scaled growth in online travel and e-commerce and I am excited to take part in this journey alongside the Company’s management team and Directors.”

Shares of Priceline.com Inc closed yesterday at $1219.79 . PCLN has a 1-year high of $1378.96 and a 1-year low of $990.69. The stock’s 50-day moving average is $1065.98 and it’s 200-day moving average is $1137.71.

On the ratings front, Priceline.com Inc has been the subject of a number of recent research reports. In a report issued on February 20, Deutsche Bank analyst Ross Sandler reiterated a Buy rating on PCLN, with a price target of $1425, which represents a potential upside of 16.8% from where the stock is currently trading. Separately, on the same day, Janney Montgomery Scott’s Brian McGill maintained a Hold rating on the stock and has a price target of $1075.

In total, 3 research analysts have assigned a Hold rating and 9 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $1219.79 which is 7.9% above where the stock closed yesterday.

Priceline Group Inc is a provider of online travel and travel related reservation and search services. The Company offer consumers accommodation reservations through its Booking.com, priceline.com and agoda.com brands.