Susquehanna Reiterates a 'Positive' Rating on Ctrip.com (CTRP); Raises Price Target
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Susquehanna reiterates a 'Positive' rating on Ctrip.com (Nasdaq: CTRP), raises price target to $50.
Susquehanna analyst says, "We believe Ctrip is experiencing faster growth from online bookings than from call centers. This trend should lead to long-term positives, including revenue growth opportunities from leisure travels and online ad, reduction in labor costs, but higher scalability, and a stickier customer base. Near term, better than expected booking volumes should result in upside to 2Q earnings (our 2Q revenue growth is upped to 20% Y/Y from 17% Y/Y). We reiterate our Positive rating on Ctrip shares, and increase our price target 22% to $50, based on our 2010 Non-GAAP earnings estimates."
To see more analyst ratings on CTRP Click Here.
Ctrip.com International, Ltd. (Ctrip) is a travel service provider for hotel accommodations, airline tickets and packaged tours in China.
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