Trip.com price target raised to $80.80 from $75.40 at Macquarie

Macquarie raised the firm’s price target on Trip.com (TCOM) to $80.80 from $75.40 and keeps an Outperform rating on the shares after the company reported a “strong” Q3 with in-line revenue and a bottom-line beat, driven by higher operating leverage and investment income. The firm expects travel industry growth and demand to normalize, but thinks demand will be resilient going into 2025, the analyst tells investors.