JP Morgan Calls Ctrip/Priceline Deal Mutually Beneficial
Echoing earlier sentiment of Deutsche Bank, JP Morgan stated in a note Thursday that the Priceline (NASDAQ: PCLN) investment in Ctrip.com (NASDAQ: CTRP) would be mutually beneficial for both companies.
JP Morgan said it thinks the deal could enhance quality and margins, while making it more difficult for other firms to establish a presence in the overseas travel market in China.
Shares of Ctrip are up more than 11 percent at $67.60, while Priceline is last quoted up about one percent at $1,292.
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