Market Overview

UPDATE: Goldman Sachs Upgrades Ctrip.com International to Buy on Business Segment Upside

Share:
Related CTRP
After-Hours Recap: The Markets' Big Week And Some After-Hours Movers
China Eastern Air Holding, Ctrip Announce New Strategic Collaboration
Baidu Zooms On 'Solid' Search Growth, 'Very Strong' Revenue Outlook (Investor's Business Daily)

Goldman Sachs raised its rating on Ctrip.com International (NASDAQ: CTRP) from Sell to Buy and increased its price target from $15.50 to $25.

Goldman Sachs commented, "We upgrade Ctrip to Buy (from Sell) as we see significant valuation upside in its business segment, and price competition in leisure is stabilizing. With its best-in-class service quality and ongoing dominance in high-end business travel, Ctrip offers the best exposure to industry profit growth, in our view. Our e-coupon concerns are subsiding as competitor eLong's operating margin nears low single digits, and our channel checks suggest industry subsidies are stabilizing. While China online travel agency (OTA) bookings are at 25% of US volumes, OTA market cap is at only 12% of the US level – and Ctrip appears best placed to reduce the valuation gap."

Ctrip.com International closed at $19.54 on Friday.

Latest Ratings for CTRP

DateFirmActionFromTo
Mar 2016Brean CapitalMaintainsBuy
Mar 2016Summit ResearchTerminatesBuy
Feb 2016CLSAUpgradesUnderperformBuy

View More Analyst Ratings for CTRP
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (CTRP)

View Comments and Join the Discussion!