• Ctrip has sold off massively on declining growth and the general malaise in Chinese shares.
• But we think this has mostly run its course, as valuation is really quite reasonable and a considerable part of the slowdown is optical.
• Operational leverage is already kicking in despite heavy investments, and the latter are cementing Ctrip as a leading travel platform.

Source: Ctrip Is Thrown Out With The Bathwater – Ctrip.com International, Ltd. (NASDAQ:CTRP) | Seeking Alpha