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CTRP.O

ISIN: US22943F1003
SEDOL: 2208987

Rating:

BUY

Target Price:

25.00 USD

Investment Horizon:

6 to 12 months
12th May 2009 View Report   Download

1Q 09 News Alert

Ctrip.com International Ltd. (Ctrip) reported modest growth in 1Q 09 revenues, supported by volume growth in both the Hotel Reservation and Air-ticketing businesses. With a reduction in costs, the company has been able to report margin expansion and earnings growth. The ADR has appreciated significantly after achieving our target price on 13 March 2009, reflecting a broader market recovery. Although in the near term macroeconomic concerns will continue…

16th Mar 2009 View Report   Download

Company News Alert

Ctrip.com International, Ltd.’s (Ctrip) ADR price has increased significantly since our last update report, reflecting the ongoing volatility in the global stock markets. We also believe the increase in the stock price was compounded by positive market reaction to the Chinese government’s economic stimulus package. The ADR achieved our target price on 13 March 2009. Going forward, given the rising internet population in China and Ctrip’s leading position…

9th Mar 2009 View Report   Download

4Q 08 & FY 2008 Update Report

Ctrip has managed to sustain modest top-line growth despite weak macroeconomic conditions negatively impacting sales volumes of hotel rooms and air ticket bookings. We expect the downturn in leisure and corporate travel to continue over the near to medium term, which will prompt hotel and airline companies to cut prices and increase their marketing activities in an effort to ramp up sales....

9th Feb 2009 View Report   Download

4Q 08 & FY 2008 News Alert

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Ctrip.com International Ltd. (Ctrip) reported growth in 4Q 08 and FY 2008 revenues, driven by strong performances in both its Hotel Reservation and Air-ticketing businesses. Management has issued cautious guidance for 1Q 09 to reflect the difficult operating environment. Going forward, we believe the difficult macroeconomic climate will negatively impact hotel and air travel bookings over the near…

11th Dec 2008 View Report   Download

3Q 08 Update Report

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Ctrip.com International, Ltd.’s (Ctrip) 3Q 08 revenue was below our and Management’s expectations, reflecting the downturn in the Chinese economy. EPS was below our expectation due to lower-than-anticipated operating performance, higher interest rates and other nonoperating income....