eh what the hell, lets raise the price target $100 more. Damn is this stock so overpriced for a dot com its not even a joke anymore, pcln has an incredible amount of competition, they make it sound like they are the only dot com offering traveling deals and that no other company exists. As I said before this is truly 1999 all over again. Priceline: Cit Repeats Buy Rating; Lifts Target To $425; Shrs Up By Eric Savitz Priceline (PCLN) shares are getting a lift this morning from Citigroup analyst Mark Mahaney, who repeated his Buy rating on the stock, while lifting his price target to $425, from $325. âDespite a 53% year-to-date price surge, we continue to view PCLN as one of the most attractive large cap Internet stocks and the best play off the secular growth in online travel,â he writes in a research note. The Citi analyst maintains his EPS estimates of $12.06 for this year, $14.92 for 2011 and $17.14 for 2012. PCLN this morning is up $14.69, or 4.4%, to $349.64.
PCLN isn't overpriced. They have strong earnings, strong earnings growth AND it's holiday travel time! BIDU and GMCR seem rather overpriced to me. On the other hand, nothing is overpriced as long as there's someone else willing to bid it up further. http://en.wikipedia.org/wiki/Greater_fool_theory I'll be the greater fool any day and buy a new high if I'm trading something that's notorious for breaking out hard to new highs.