Deutsche Bank Upgrades Ctrip.com (CTRP) to Buy; Sees Continued Gains in Market Share
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Deutsche Bank upgrades Ctrip.com (Nasdaq: CTRP) to Buy. Price target increased from $23 to $39.
Deutsche analyst says, "CTRP's 2Q guidance of 10-15% YoY growth is stronger than expected and indicative of a general macro recovery. We expect CTRP to continue to gain market share via hotel/air ticket volume growth in FY09, despite of our forecast of airfare and hotel room rate YoY decline of 5-9%...Our extensive channel checks suggest that the newly launched airfare pricing system is not going to affect overall airfares materially given that airfare benchmark rate and range of allowable discount/premium remained unchanged."
Ctrip.com International, Ltd. (Ctrip) is a travel service provider for hotel accommodations, airline tickets and packaged-tours in China.
To see more analyst ratings on CTRP Click Here.
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