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Fly News Breaks for May 7, 2019
BABA, CTRP
May 7, 2019 | 05:10 EDT
Mizuho analyst James Lee last night upgraded Ctrip (CTRP) to Buy from Neutral and raised his price target for the shares to $55 from $35 ahead of the company's Q1 results. The analyst expects decreased competition along with an improved macro environment and yuan appreciation will drive both domestic and outbound travel. As such, he raised his three-year annual EBITDA growth estimate for Ctrip to 35% from 23% on improved long-term fundamentals. Alibaba (BABA) remains Lee's top pick in the China Internet space.
News For CTRP;BABA From the Last 2 Days
CTRP
Jun 25, 2019 | 06:00 EDT
Ctrip has signed a memorandum of understanding, or MOU, with Tourism Fiji and Fiji Airways at the Ctrip Headquarter in Shanghai. This MOU will enable Ctrip to work closely with Tourism Fiji and Fiji Airways on business development and joint promotional activities. This will help to accelerate Fiji's existing marketing activities in China.