Trip.com Group Sponsored ADR, the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Joyce Ju from Bank of America Securities reiterated a Buy rating on the stock and has a $85.00 price target.
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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 impressive third-quarter results, with net revenue and non-GAAP operating profit growth exceeding expectations. This was largely driven by robust hotel bookings during peak travel periods, such as the summer holidays and October Golden Week, which saw significant year-over-year increases in domestic, outbound, and international volumes.
Looking ahead, Joyce Ju anticipates continued momentum in the fourth quarter, fueled by strong holiday demand in overseas markets. This is expected to offset the typically weaker seasonal performance in China. Additionally, the diversification of outbound travel from China to other destinations is likely to mitigate any potential impact from Japan travel cancellations. The analyst also notes the company’s strategic international expansion, which is projected to drive substantial revenue growth, further supporting the Buy rating.
According to TipRanks, Ju is a 4-star analyst with an average return of 13.2% and a 57.30% success rate. Ju covers the Consumer Cyclical sector, focusing on stocks such as Alibaba, Trip.com Group Sponsored ADR, and JD.
In another report released yesterday, CMB International Securities also maintained a Buy rating on the stock with a $83.00 price target.