Priceline.com (PCLN)
Management expects strong double-digit bookings growth in the first quarter, although international is expected to grow faster than domestic. The company saw double-digit growth in revenue, gross profit dollars and operating profit dollars during recession-hit 2009.
The current momentum in the business -- international growth opportunities, good execution, prudent marketing strategy and strong financial position -- are positives. Occupancy tax-related litigation and declining ADRs are areas to watch. We are reiterating our Outperform rating on PCLN shares.
Priceline.com (PCLN) : FULL ANALYST REPORT
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