Priceline: Susquehanna Cuts Rating After Recent Rally
Priceline (PCLN) shares are under pressure this morning after Susquehanna Investment Group analyst Marianne Wolk this morning cut her rating on the stock to Neutral from Positive. She says the shares have rallied significantly “and now discount more of the positive in the story,” including a resilient Name Your Own Price business, a highly variable cost structure, a declining share count and a more favorable currency environment. She says the stock is now less compelling “given the macro challenges facing it and the rest of the [online travel agency] industry.”
