Joyce Ju, an analyst from Bank of America Securities, reiterated the Buy rating on Trip.com Group Sponsored ADR. The associated price target was raised to $83.00.
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Joyce Ju has given her Buy rating due to a combination of factors that highlight Trip.com Group’s strong performance and growth potential. The company reported a significant increase in net revenue for the second quarter, surpassing both its own guidance and market expectations. This growth was driven by substantial volume increases in hotel and transportation bookings, although it faced some pricing challenges in domestic markets.
Moreover, Trip.com’s international expansion is progressing rapidly, with its app showing impressive growth in hotel and air ticket bookings. This international segment now contributes a notable portion of the company’s revenue, and its potential to grow further is promising. Joyce Ju also points to the company’s solid leadership position in its industry, strong management execution, and good earnings visibility as reasons for maintaining a positive outlook on the stock.
According to TipRanks, Ju is a 4-star analyst with an average return of 9.4% and a 57.83% success rate. Ju covers the Consumer Cyclical sector, focusing on stocks such as JD, PDD Holdings, and Trip.com Group Sponsored ADR.
In another report released today, Barclays also maintained a Buy rating on the stock with a $85.00 price target.