Analysts: Priceline has Improved Competitive Pricing Position and 3 More Research Notes Worth Reading
Priceline.com (NASDAQ:PCLN): Morgan Stanley has upgraded Priceline.com to Overweight from Equal Weight and raised estimates above consensus following its survey of European hotels that indicates an improved competitive position, growing inventory at Bookings.com, and stabilizing margins. The firm believes shares can re-rate higher as competitive concerns dissipate, and set a new price target of $1,010.
ARM Holdings (NASDAQ:ARMH): Bernstein believes that ARM could present a good short opportunity after second quarter results and expects ARM Holdings to report stronger-than-anticipated numbers, but continues to predict that the company will perform below consensus over the long term.
Abbott Laboratories (NYSE:ABT): RBC sees the stock’s recent weakness due to China headlines as a buying opportunity, and noted that the China National Development and Reform Commission’s industry investigation into price-fixing and anti-competitive practices is an attempt to restore confidence in local brands and increase quality. The analyst does not expect a material impact on Abbott, and reiterates its Outperform rating.
Best Buy Co. Inc. (NYSE:BBY): SunTrust recommends Best Buy due to store and website improvements, improved positioning against Amazon.com and other discounters, expected newsflow in the form of additional vendors and chain improvement, and an improving industry environment. The firm rates the shares at Buy, with a $38 price target, up from $35.