"Most compelling" Priceline boosted to Conviction Buy at Goldman

|About: The Priceline Group Inc. (PCLN)|By:, SA News Editor

One thousand five hundred is Goldman's new price target for Priceline (PCLN) after analyst Heath Terry adds the stock to the firm's Conviction Buy list.

"One of the most compelling risk/reward scenarios in our internet coverage," is how Terry describes the stock, noting it trades at a discount to its sector on a relative growth basis. "We see increasing upside potential to our already above consensus estimates as [PCLN benefits] from a European recovery, mobile traffic growth, and increasing economies of scale, particularly in customer acquisition."

The stock's up 1.8% to $1,139 in premarket trade.