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Priceline up as target raised

Bank of America Merrill Lynch raised its rating on the online travel booking site to buy from neutral. It also boosted Priceline's (PCLN) price target to 770 from 690. BofA said it sees more near-term upside potential to Priceline's '13 earnings estimates than it does for Expedia (EXPE). BofA (BAC) is upbeat on Priceline's int'l prospects and has a "positive view" on its planned acquisition of Kayak. Priceline rose 1.6%. Expedia hit a long-term high early, but closed down 0.7%.