CICC International: Upgrade Ctrip Group-S (09961.HK) Target Price to 579 Hong Kong Dollars, Expects Adjusted Operating Profit Margin to Reach 29% in Second Quarter.

According to the Wisdom Finance APP, ICBC International released a research report stating that in order to fully grasp the investment value of Ctrip Group-S (09961.HK) subsidiary, the bank has changed the valuation method from P/E ratio to SOTP, resulting in a new target price. The target price has been raised from HK$531 to HK$579, an increase of 9%. Based on the group's solid prospects and the long-term opportunities of its core brand Trip.com, they maintain their "outperform" rating.