UPDATE: Cantor Fitzgerald Raises PT on Priceline.com Following Kayak Acquisition Close

In a report published Tuesday, Cantor Fitzgerald analyst Naved Khan reiterated a Buy rating on Priceline.com (NASDAQ: PCLN), and raised the price target from $800.00 to $900.00.

In the report, Cantor Fitzgerald noted, “We are revising our estimates for PCLN and raising our PT to $900 (from $800) to reflect the close of Kayak's acquisition effective today. Priceline's continued strength in international hotel bookings coupled with potential for synergies from Kayak's acquisition longer-term keep us positive on the stock.”

Priceline.com closed on Monday at $842.50.