UPDATE: JG Capital Initiates Priceline.com at Overweight; Exposed to Demand for Bargain Deals

JG Capital initiated coverage on Priceline.com (NASDAQ: PCLN) with an Overweight rating and a $780 price target.

JG Capital commented, "Priceline.com, in our view, is the best on-line travel site for bargain hunters. By taking suppliers' excess inventory and marking it down, Priceline.com is able to offer their customers very attractive discounts. Priceline.com doesn't disclose all of the details of their travel inventory. By foregoing convenience, Priceline.com users usually get the lowest price available, which bodes well in this slow growth economic environment."

Priceline.com closed at $ on Monday.