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Fly News Breaks for March 5, 2019
CTRP
Mar 5, 2019 | 09:21 EDT
Morgan Stanley analyst Grace Chen upgraded Ctrip to Overweight from Equal Weight and raised her price target on the stock to $43 from $32, stating that she sees sales growth and operating margins bottoming out from the trough in 2018 after the company reported results and reaffirmed 2020 guidance. Citing better visibility for margin recovery and stabilizing demand, Chen raised her 2019 and 2020 net profit forecasts by 16% and 10%, respectively. Ctrip shares were also upgraded this morning at Citi and JPMorgan.
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