Susquehanna Downgrades Ctrip.com International (CTRP) to Neutral; Looking For Better Entry Point
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Susquehanna downgrades Ctrip.com International (Nasdaq: CTRP) from Positive to Neutral.
Susquehanna analyst says, "Yesterday, Ctrip reported stronger than expected earnings results. Excluding ezTravel, the firm delivered 21% Y/Y top-line growth, largely in-line with our 20%, but beat consensus of 18%. EPS was four cents ahead of estimates, helped by top-line performance, equity income from Home Inns, and government subsidies. Its 3Q guidance appears more conservative than negative. That being said, while we continue to be optimistic about Ctrip's fundamentals, we decided to take a cautious step after Ctrip shares have rallied by 129.7% YTD. We are moving our rating to Neutral from Positive, and advise new money to seek better timing/entry price."
To see more analyst ratings on CTRP Click Here.
Ctrip.com International, Ltd., together with its subsidiaries, provides travel services for hotel accommodations, airline tickets, and packaged tours in the People's Republic of China.
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