UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Ctrip.com International Ltd. Following Internet Tour

In a report published Monday, Deutsche Bank analyst Vivian Hao reiterated a Hold rating on Ctrip.com International Ltd. CTRP, and raised the price target from $16.04 to $32.00. In the report, Deutsche Bank noted, “During our internet tour, Ctrip management provided a business update and elaborated on its positioning given the new trends evolving in China's travel sector. Ctrip has a stronghold in the incumbent business travel segment and enjoys advantages in the emerging leisure travel segment thanks to its established brand. Yet we recognize limited visibility on LT margins due to such structural shifts and faster growth of its leisure clientele, despite likely margin improvement in FY13 after FY12's hefty investments; maintain Hold.” Ctrip.com International Ltd. closed on Friday at $31.35.