Ctrip is the key beneficiary of market consolidation in China's online travel market.
We have raised our fair value estimate for narrow-moat Ctrip to $57 per share from $55 due to the time value of money. We now forecast overall net revenue growth and operating profit margin for 2017 of 40% and 11%, respectively, and we retain our long-term assumptions. The shares are fairly valued in our view. Management expects that the Civil Aviation Administration of China's requirement for making default opt-in cross-selling services a voluntary option will reduce transportation revenue grow...
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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