Citi analyst Alicia Yap upgraded Ctrip to Buy from Neutral and raised her price target for the shares to $43 from $35. With continued market share gains and above industry growth, Ctrip beating its "overly conservative" guidance and Street expectation in Q4 results was not a surprise, Yap tells investors in a post-earnings research note. The analyst believes visibility of Ctrip's outlook has "improved implicitly." If the economic environment turns better and Trip.com traction continues to grow, it is likely Ctrip could top its near-term guidance and beat its medium-term gross merchandise volume outlook, Yap contends.