UPDATE: Morgan Stanley Comments on Priceline Amid Qtr. Figures, Boosts Target to $1,450

Morgan Stanley maintains an Overweight rating on priceline.com (NASDAQ: PCLN ) following fourth quarter results Thursday afternoon. The price target was raised from $1,320 to $1,450. Scott Devitt, analyst at Morgan Stanley, believes “Priceline can outperform consensus estimates...posting strong organic international bookings growth” as “fears of margin degradation dissipate.” Devitt