Market Overview

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

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Goldman Sachs raised its rating on 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." International closed at $19.54 on Friday.

Latest Ratings for CTRP

Sep 2015OppenheimerMaintainsOutperform
Aug 2015Stifel NicolausUpgradesHoldBuy
Aug 2015Morgan StanleyUpgradesEqual-weightOverweight

View More Analyst Ratings for CTRP
View the Latest Analyst Ratings

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


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