09-04-2014 17:59 DJ JPMorgan Touts Facebook, Priceline after Selloff -- Market Talk
Name LetzterVeränderung§ FACEBOOK CL A ORD 62.41 4.22 (7.25 %) THE PRICELINE GROUP ORD 1'234.63 47.09 (3.97 %) 11:59 EDT - After a "swift and significant" selloff recently in Internet stocks, JPMorgan says there's "some attractive opportunities in companies with continued strong fundamentals and growth potential ahead." Firm's top two names on the pullback -- Facebook (FB) and Priceline (PCLN) -- "provide the best combination of earnings power and growth, and at reasonable overall valuation levels." Firm thinks "advertiser demand through 1Q continued to build and comScore data suggests continued strong engagement" for FB. Meanwhile, JPM considers PCLN "the best-positioned company in the online travel space and will continue to gain share in international markets." FB up 4.9%, was down about 14% from its recent March high. PCLN was down about 13% from its March high, up 1% today. |