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Fly News Breaks for June 16, 2016
QUNR, CTRP
Jun 16, 2016 | 07:37 EDT
Brean Capital lowered its price target on Ctrip.com (CTRP) to $52 from $56 after the company posted solid results, but provided soft guidance, which was mainly attributed to the near-term revenue growth pressure from Qunar (QUNR) given the recent adjustment of the air ticketing business and the changes to Qunar's hotel business targeting profitable growth. Brean Capital views Ctrip.com as a core holding and reiterated its Buy rating on its shares.