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Fly News Breaks for August 14, 2015
CTRP
Aug 14, 2015 | 05:55 EDT
Piper Jaffray analyst Michael Olson views the recent pullback in shares of Ctrip.com as a buying opportunity and reiterates an Overweight rating on the name with a $91 price target. Shares have sold off 9% in the face of the 3% devaluation of the Chinese RMB, Olson tells investors in a research note. Olson believes the devaluation is likely to have a limited impact on Ctrip.com's revenue and thinks the selloff in shares is an overreaction.
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