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Fly News Breaks for November 25, 2016
CTRP
Nov 25, 2016 | 05:48 EDT
JPMorgan analyst Alex Yao says he's turning more positive on Ctrip.com's profit outlook following the company's Q3 results. The company's operating efficiency is improving while Qunar is turning profitable, Yao tells investors in a research note. The analyst views the Skyscanner acquisition as "solid progress" toward expanding into the addressable market for the outbound travel business. He maintains an Overweight rating on Ctrip.com with a $55 price target. The Chinese travel service provider is up $3.51 to $44.50 in pre-market trading.
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