Susquehanna Upgrades Ctrip.com International Ltd. (CTRP) to Positive
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Susquehanna upgrades Ctrip.com International Ltd. (Nasdaq: CTRP) from Neutral to Positive with a $50 price target.
The firm said, "trading at 25x our CY09 non-GAAP EPS, Ctrip shares look attractive, despite the near-term weakness caused by earthquake and Olympics, among other factors. Our industry survey suggests Ctrip may have performed better relative to what is implied by airline carrier's data. We also foresee 3Q and 4Q results will be progressively stronger. In our view, the current share weakness offers a good entry point to a long-term growth story."
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