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Fly News Breaks for April 20, 2017
CTRP
Apr 20, 2017 | 08:02 EDT
Cowen analyst Kevin Kopelman lowered his price target on Ctrip.com to $55 from $60 following reports the China Consumers Association announced an investigation for aggressive cross-selling practices on air ticketing. The analyst said cross-selling accounts for roughly 22% of revenue, which increases the company's risk, leading to his lower price target. Kopelman maintained his Outperform rating on Ctrip.com shares.
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