Trip.com Group Sponsored ADR, the Consumer Cyclical sector company, was revisited by a Wall Street analyst on August 29. Analyst Saiyi He from CMB International Securities maintained a Buy rating on the stock and has a $76.00 price target.
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Saiyi He has given his Buy rating due to a combination of factors that highlight Trip.com Group’s strong financial performance and growth potential. The company’s second-quarter results exceeded expectations, with total revenue reaching RMB14.9 billion, marking a 16% year-over-year increase. This performance was slightly above both CMB International’s and Bloomberg’s forecasts, driven by better-than-expected operating leverage.
Trip.com Group has demonstrated robust booking volume growth in both domestic and outbound markets, supported by its strong supply chain and customer service capabilities. The company’s international expansion is progressing well, contributing significantly to its revenue growth. With a revised earnings forecast and an increased target price, Saiyi He maintains a positive outlook on Trip.com Group’s ability to sustain its revenue and earnings growth, justifying the Buy rating.
In another report released on August 29, Bank of America Securities also reiterated a Buy rating on the stock with a $83.00 price target.