JP Morgan says CTrip Priceline Deal Mutually Beneficial

Echoing the earlier sentiment of Deutsche Bank, JP Morgan stated in a note today that the Priceline

investment in Ctrip

would be mutually beneficial for both companies. JP Morgan further stated 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 CTRP are up nearly 10 percent at 66.87, while PCLN is last quoted up 1.2 percent at 1295.