Priceline property count suggests Q2 upside, says FBR Capital
FBR Capital said its latest property count for Booking.com shows strong Q2 growth and points to potential earnings upside for Priceline (PCLN). The firm says count is up 57% year-over-year and ahead of its estimate, suggesting potential Q2 earnings of $12.25-$12.45 versus the consensus of $12.02. It questions whether the magnitude of the upside will be enough to lift shares, however. FBR keeps an Outperform rating on shares of Priceline with a $1,500 price target.
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