CTRP: Expect In-Line 4Q17 Results and 1Q18 Guidance; CTRP is in Transition Period; Downgrade to HOLD

  • CTRP: Expect In-Line 4Q17 Results and 1Q18 Guidance; CTRP is in Transition Period; Downgrade to HOLD

Ctrip will report 4Q17 results in mid to late March. Based on our data and calculations, we expect CTRP’s 4Q17 revenue to be around RMB6,393M (26.2% Y/Y growth), largely in line with consensus at RMB6,398M (26.3% Y/Y) and toward the lower end of its revenue guidance range of RMB6,334.1M - RMB6,587.5M (25% - 30% Y/Y growth).

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T.H. Capital is an independent research and investment advisory firm specializing in China. We offer real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects, from China ADRs to international names that have meaningful exposure to the China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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