Zhitong Financial APP learned that Morgan Stanley released a research report to upgrade the rating of Ctrip (TCOM.US) from "hold" to "increase its holdings", with a target price of $50.

Analyst Alex Poon pointed out that Ctrip's revenue will recover from the second quarter of 2021, driven by the normalization of domestic tourism. Over the next 12 months, the share price will reflect market expectations for a recovery in outbound travel, as the unit economic benefits of outbound travel are four to five times that of domestic travel, which has been the company's revenue driver for years.

Ctrip is expected to regain market share in second-and third-tier cities, the bank said.