Seeking Alpha -2.5% as Hong Kong weighs on guidance

|About: International, Ltd. (CTRP)|By:, SA News Editor (NASDAQ:CTRP) is down 2.5% on more than double average volume today following a Q2 beat that contained downbeat guidance for Q3, in large part due to Hong Kong.

Revenues grew nearly 19%, and operating income rose 84%, to 1.3B yuan (about $194M). Non-GAAP operating income rose 43%.

For Q3 it's forecasting Y/Y net revenue gains of 10-15%.

Morgan Stanley cut its rating on the ADRs to Equal Weight, from Overweight, and lowered its price target to $35 from $43 (2.2% upside implied).

Otherwise analysts stuck up for their stances. Citigroup noted the Hong Kong/Taiwan effects on travel demand in maintaining its Buy rating and even bumping its price target to $41 from $40, expecting more market share gains.

Benchmark trimmed its target to $46 from $48 but says the long-term fundamental story is "intact."

It's also introduced a proposal to change the company name to Group Limited.

Earnings call transcript

Press release

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