Analyst Lloyd Walmsley downgraded the rating on Priceline from Buy to Hold, while reducing the price target from $1,425 to $1,325. Shares are trading at the high end of the historic range, despite the company's decelerating growth, margin pressure and rising risks from Airbnb. "Priceline has a strong lead in hotels, superior execution and an under-appreciated strategic play in BookingSuite. But our proprietary analysis of its vacation rental (VR) bookings shows this segment adding an estimated 9ppts of int'l bookings growth ex-FX, without which core bookings growth would have been an estimated 19% y/y ex-FX in 4Q14 (vs headline +27% ex-FX)," the Deutsche Bank report noted. VR may account for about 30 percent of the international bookings growth, excluding currency effects, in 2015. While expressing optimism regarding Priceline's bookings growth in the near term and better margin guidance for 3Q, Walmsley said there were concerns around sustaining growth. Get the full story at Benzinga and Barrons