Piper Jaffray Upgrades Ctrip.com International (CTRP) to Overweight; July Air Traffic Accelerates

Piper Jaffray & Co. upgrades Ctrip.com International (Nasdaq: CTRP) from Neutral to Overweight. Price target raised from $55 to $64.

Piper analyst says, "Confidence in CTRP is based on: Improving air traffic; comps remain favorable for next several months. PJC China travel pricing survey suggests hotel & air pricing flat to up q/q. Various sources of data clearly show improving China macro trends. 2010 Shanghai Expo will stimulate domestic travel from 5/10 to 10/10. CTRP is a play on the growth of Internet usage & ecommerce in China."

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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