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).
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers 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 China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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