News

S&P Index Services, which operates independently from S&P Equity Research, announced that PCLN would be added to the S&P 500. We think this constitutes a positive for PCLN as the stock should garner greater interest and demand, and perhaps the company would command more general recognition and respect. In our view, PCLN is a well-managed market leader that sometimes is still perceived unfavorably as it was around the time of the dot-com bust. Regardless, we think PCLN is fully valued, and note it is set to report Q3 results pre-market on 11/9.