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Fly News Breaks for January 14, 2016
QUNR, CTRP
Jan 14, 2016 | 07:45 EDT
Oppenheimer expects Ctrip.com's (CTRP) ADS share count to jump 54% versus Q3 after its transactions with Qunar (QUNR) are complete, and the firm expects Ctrip.com to evetually control 80%-90% of Qunar. The firm cut its price target on Ctrip.com to $60 from $65 due to the share dilution, but it expects the company to be the "clear winner" of the China online travel market. The firm reiterates an Outperform rating on the stock.
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