UPDATE: Credit Suisse Reiterates on Priceline.com as Significant Runway Remains

In a report published Thursday, Credit Suisse analyst Dean Prissman reiterated an Outperform rating on Priceline.com (NASDAQ: PCLN), and raised the price target from $1,275.00 to $1,450.00.

In the report, Credit Suisse noted, “We reiterate our conviction in Outperform-rated Priceline as an open-ended growth story. Our proprietary work suggests significant runway remains, with share of fillable rooms from the 407k properties on the platform a modest ~7%, up from ~5% three years ago.”

Priceline.com closed on Wednesday at $1,246.64.