Brean Murray Carret & Co. Upgrades Ctrip.com (CTRP) to Hold

Brean Murray Carret & Co. upgraded Ctrip.com (NASDAQ: CTRP) from Sell to Hold with a price target of $19 after shares hit their previous target price with the recent sell-off.

The firm comments, "On the fundamental side, we have become incrementally more positive, as 1Q results + 2Q guidance seem to indicate that CTRP is stabilizing at a new revenue growth run rate of 15%‐20% with ~30% non GAAP operating margin, the base scenario the market has been looking for, in our view. With management reiterating its stable margin outlook in 2012 (vs. two consecutive cuts from the two previous quarters), we expect improving sentiment from the market and investor comfort of reinvesting in the stock."

For an analyst ratings summary and ratings history on Ctrip.com click here. For more ratings news on Ctrip.com click here.

Shares of Ctrip.com closed at $19.65 yesterday.

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