Earlier this week, the Shanghai-based travel service provider reported better-than-expected results for the 2016 second quarter.
Ctrip.com reported adjusted earnings of 2 cents per diluted share, while Wall Street was projecting a loss of 19 cents per share. Revenue came in at $664 million, above analysts' estimates of $659 million.
Stifel upped its price target to $56 from $52 and maintained its "buy" rating on shares yesterday.
The firm said Ctrip.com reported "strong" results and gave a solid revenue forecast, the Fly noted. Stifel continues to be upbeat on the company's fundamentals and expects its EBITDA margins to be close to 30% in coming years.
Chinese online travel company Ctrip is looking quite strong and seems to have more upside.
A very bullish W pattern has emerged (in yellow) and is moving to higher ground.
Volume levels have been rising as well, but impressive is the slope of the RSI (top pane), as the move from the high $30s into this resistance area continues.
The moving average convergence divergence (MACD) is on a buy signal too, while momentum indicators remain overbought. The November highs around the high $50s are a very achievable goal.
Want more like this from Chris Versace and Bob Lang BEFORE your stock moves? Learn more about Trifecta Stocks now here.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and notable return on equity.
The team believes its strengths outweigh the fact that the company has had sub par growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: CTRP