Priceline.com Inc (PCLN) is focusing on wider geographic coverage by expanding its Booking.com business into the U.S., and is expected to see further growth in the near term and beyond, says Edward Woo, Senior Research Analyst at Ascendiant Capital Markets LLC.
“Priceline through their Booking.com, which has been a major growth engine for them and has historically been a European hotel booking company, moved into the U.S. earlier this year, and we saw a lot of TV advertisement for them,” Woo said. “If I were to only buy one it would be Priceline, because they are by far the largest and best performing online travel company right now.”
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Woo points to Priceline‘s significant growth over the past couple years, and believes the company will continue this trajectory with the extension of Booking.com into the U.S.
“They are executing tremendously, and their growth over the past several years has been spectacular. Because of that, their near-term momentum is really strong, and they still have a big runway to continue their growth. With their recent move of Booking.com into the U.S. and to other parts of the world, their near-term growth prospects remain high,” Woo said.
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