Priceline could be a good opportunity - Barron's
NEW YORK, Nov 9 (Reuters) - Priceline.com's (PCLN.O) shares could offer a good investment opportunity due to its healthy balance sheet and its strength in the bargain end of the travel sector, Barron's said on Sunday.
The financial weekly reported that the stock market has already factored in the challenges facing the travel and retail sectors into Priceline's stock price.
As consumers become more conscious of managing their personal budgets, Barron's said Priceline's name-your-own-price business will become a bigger draw.
It also said Priceline has little debt and plenty of cash on its balance sheet, including $282 million in free cash flow this year.
At Friday's closing price of $54.57, Priceline trades at 8.8 times 2009 profits, below 21 times for Internet retailers and over nine times for the travel and leisure sector, according to Barron's. (Reporting by Yinka Adegoke, editing by Maureen Bavdek)
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