Trip.com price target raised to $78 from $75 at Bernstein

Bernstein raised the firm’s price target on Trip.com (TCOM) to $78 from $75 and keeps an Outperform rating on the shares following quarterly results. The company guided for Q3 towards sustained revenue growth of +14.5% year-over-year, in line with consensus. This is driven by strength of Trip.com international business of +70% year-over-year for accommodation, while domestic accommodation remained resilient at ~10% year-over-year with strong volume growth offset by pricing pressures.