Ctrip.com (CTRP) Bounces After Yesterday's Free-Fall

After falling 14 percent yesterday on reports three major Chinese airlines cut commissions on domestic routes from Shanghai and Beijing, Ctrip.com (Nasdaq: CTRP) is 2 percent higher today despite a new analyst downgrade.

Today's bounce could be related to a combination of bargain hunters moving into the stock and short sellers covering to lock in profits.

Brean Murray downgrades Ctrip.com today from 'Buy' to 'Hold' citing the uncertainties related to air ticketing commission rate and decreasing earnings visibility.

Ctrip.com last traded at $33.54, with a 52-week range of $19.45-$72.66.

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