Piper Jaffray Cuts Ctrip.com (CTRP) to Neutral On Valuation
More News related to CTRP
- Nomura Securities Upgrades Ctrip.com (CTRP) to Buy
- Notable Analyst Rating Changes 6/24: FCX, BDK, DB, EMC Upgraded; WFR, BA, CTRP Downgraded
- Deutsche Bank Downgrades Ctrip.com (CTRP) to Hold; Valuation Call
- Susquehanna Reiterates a 'Positive' Rating on Ctrip.com (CTRP); Raises Price Target
- Credit Suisse Downgrades Ctrip.com (CTRP) to Neutral
Piper Jaffray downgrades Ctrip.com International (Nasdaq: CTRP) from Buy to Neutral with a $68 price target, citing valuation.
The firm notes the stock is up 39% since January 24 and at 55x '08 EPS and 40x '09 EPS the stock is fairly valued.
The firm is still positive on Ctrip's fundamentals and they believe the company will continue to benefit from the strong travel market in China.
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