Ctrip.com International Rating Increased to Buy at Stifel Nicolaus (CTRP)

Ctrip.com International (NASDAQ:CTRP) was upgraded by stock analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $48.00 price target on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 31.15% from the stock’s previous close.

The analysts wrote, “Ctrip delivered what we view as strong 2Q13 results and provided better-than-expected revenue guidance for 3Q13. We are upgrading the shares of Ctrip from Hold to Buy and establishing a $48.00 target price equal to an enterprise value / adjusted EBITDA multiple of 20.9x our new 2014 adjusted EBITDA estimate of $277 million. We believe the combination of mobile innovation, a renewed focus on distribution, and an industry tailwind in China with air passenger enplanements at a ten-quarter high support further appreciation in the shares.”

Ctrip.com International (NASDAQ:CTRP) traded up 16.99% on Thursday, hitting $42.82. Ctrip.com International has a 52-week low of $12.44 and a 52-week high of $37.46. The stock’s 50-day moving average is currently $33.72. The company has a market cap of $5.556 billion and a price-to-earnings ratio of 48.87.

Ctrip.com International (NASDAQ:CTRP) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. The company had revenue of $202.83 million for the quarter, compared to the consensus estimate of $192.68 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. Analysts expect that Ctrip.com International will post $0.79 EPS for the current fiscal year.

A number of other firms have also recently commented on CTRP. Analysts at Zacks upgraded shares of Ctrip.com International from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, July 10th. They now have a $35.80 price target on the stock. Separately, analysts at Bank of America Corp. reiterated a “buy” rating on shares of Ctrip.com International in a research note to investors on Wednesday, June 26th. They now have a $34.50 price target on the stock, up previously from $29.50. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Ctrip.com International in a research note to investors on Monday, June 24th. They now have a $32.00 price target on the stock, up previously from $16.04.

Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $30.33.

Ctrip.com International, Ltd. (NASDAQ:CTRP) is a travel service provider for hotel accommodations, airline tickets and packaged tours in China.