PiperJaffray Maintains Rating on Ctrip.com International

PiperJaffray has published a research report on Ctrip.com CTRP International, updating shareholders on the company. In the report, Piper Jaffray writes, "We continue to believe Ctrip's +15-20% y/y net RMB revenue growth guidance for Q2 is conservative and we are modeling for RMB revenue growth of 25% for Q2 at $133.7m; Street estimates call for revenue of $128.9m." Piper Jaffray decided that it was no longer necessary to create estimates of both firmwide and organic revenue. PiperJaffray kept the Overweight rating on Ctrip.com, maintaining the price target of $49.00. Ctrip.com International closed yesterday at $43.70. Trading today dropped the price 1.51% to $43.11.