Ctrip.com (CTRP) PT Raised to $46 at Wells Fargo
Wells Fargo raised its price target on Ctrip.com (NASDAQ: CTRP) to $46.00 (from $45.00) while maintaining a Market Perform rating following solid Q1 results.
Analyst Ken Sena notes margins were better than feared.
The analyst is increasing 2018 revenue by 2% to ¥32.0bn/$5.0bn (19.4% y/y) and increasing adj. operating margin by 120bps to 16.9%.