JPMorgan lowered the firm’s price target on Trip.com (TCOM) to $75 from $80 and keeps an Overweight rating on the shares. The sees the share price reacting negatively to the Q4 results due to a weakening margin outlook as a result of increasing user acquisition efforts. Investors are likely to take profits after the results given Trip.com’s 91% return in 2024, the analyst tells investors in a research note. JPMorgan cut estimates but believes Trip.com’s stock narrative remains unchanged. It remains one of the few companies that could deliver teens earnings growth on a three-year view, the firm contends.
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