BFM 89.9
The Business Station
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Simon Qian, analyst at Maybank Kim Eng, Hong Kong talks about Ctrip.com International, China’s largest online travel agent. He discusses:
- its business model
- dealing with intense competition in the online travel space, especially from Qunar and Baidu
- Ctrip.com's margins vs its peers
- its in a net cash position, PEs in the 30something range though, and expected to come down to 24x in 2014, 17x in 2015 - still looks high?
- target price is USD82, which is far higher than what the stock’s currently trading at. Valuation method.
BFM's Khoo Hsien Chun speaks with him.
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