Victor--any response to this?
Friday April 7, 9:15 am Eastern Time
Company Press Release
SOURCE: E*OFFERING Corporation
E*OFFERING Initiates Coverage on priceline.com (Nasdaq: PCLN) With a Strong Buy Rating
SAN FRANCISCO, April 7 /PRNewswire/ -- The following is being issued by E*OFFERING, a member of the National Association of Securities Dealers, CRD Number 036717:
E*OFFERING, a leading Internet investment bank, today announced its initiation of coverage on priceline.com Inc. (Nasdaq: PCLN - STRONG BUY, $77-1/8) with a STRONG BUY rating and a 12-month price target of $150. Vice President and Senior E-Commerce Analyst Shawn Milne highlights the company in his report titled ``Ten Reasons to Buy Priceline.com.'
``We believe priceline's revolutionary 'name your price' model is not only scalable to many different verticals, but also has strong networking characteristics that will provide significant growth and margin expansion,' Milne said. ``We expect revenues to more than double to $1.0 billion in FY00 -- driven by strong growth in its flagship travel service and recently added hotel and rental car segments as well as new vertical markets. The stock is trading at a significant discount to other major Internet 'properties' companies, and, with several positive catalysts ahead, we believe that priceline.com offers significant room for appreciation. Lastly, we believe priceline.com is a leader in the E-Consumer Services revolution, a $250 billion online opportunity.'
To read Shawn's report on priceline.com or any of the other companies he covers, please visit the E*OFFERING website at eoffering.com.
(by the way, reading the PDF file listed at eoffering is quite convincing, at least to me) |
