Fly News Breaks for May 22, 2015
May 22, 2015 | 11:25 EDT
Piper Jaffray believes Ctrip.com (CTRP) will use its largest shareholder status to push eLong (LONG) to change its operational strategy with an emphasis on improving profitability. Piper expects Ctrip will focus eLong more on products and less on discounting. It sees such moves as furthering Ctrip's operating margin recovery. Piper reiterates an Overweight rating on Ctrip with a $91 price target.
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