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Fly News Breaks for January 11, 2017
CTRP
Jan 11, 2017 | 07:13 EDT
Bernstein analyst Bhavtosh Vajpayee started coverage of Ctrip,.com with a Market Perform rating and a $41 price target. The analyst says that the company is dominant in the OTA market, whose consolidation should enable the company's margins to rise. However, the analyst says that expectations for Ctrip.com are high, while competitive threats remain and the hotel sector remains in a "multi-year trough." Vajpayee does not expect Ctrip's prices to return to its previous peaks.
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