Ge Long Hui·2025-09-16 07:57Core Viewpoint - Ctrip Group's stock price reached a historic high of 600.5 HKD, with a market capitalization of 392.7 billion HKD, following the acquisition of European travel management company Key Travel, which specializes in humanitarian and academic travel [1] Company Developments - Ctrip's travel management division has acquired Key Travel, enhancing its international business presence in Europe, North America, and Africa, now covering a total of 8 markets [1] - The CEO of Ctrip's travel management division, Song Tao, emphasized the company's growth through both organic development and acquisitions, with over 20 self-operated markets globally [1] Market Position and Analyst Ratings - According to CMB International, Ctrip is in a favorable position within the competitive mainland market, with an ongoing trend of improved marketing efficiency [1] - The target price for Ctrip has been raised from 591 HKD to 653 HKD based on a 20x P/E ratio for 2026, maintaining a "Buy" rating [1] - Citigroup expects Ctrip's domestic revenue growth to remain resilient, with significant overnight stays, and has adjusted earnings forecasts for 2025 to 2027 upwards by 2%, 2%, and 3% respectively [1] - UOB Kay Hian also maintains an "Overweight" rating on Ctrip, raising its target price to 725 HKD [1]