BofA analyst Joyce Ju raised the firm’s price target on Trip.com (TCOM) to $85 from $83 and keeps a Buy rating on the shares after the company reported “solid results” in Q3, primarily driven by strong hotel bookings during the summer holidays and October’s Golden Week. For Q4, the firm forecasts net revenue growth of 17% year-over-year, accelerating from Q3, driven by robust holiday demand in overseas markets that helps counter China’s weakest seasonal quarter.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TCOM:
- Trip.com Group’s Strong Q3 Performance and Strategic Expansion Justify Buy Rating
- Trip.com Group: Strong Financial Performance and Promising Growth Drive Buy Rating
- Trip.com price target raised to $86 from $85 at Citi
- Trip.com price target raised to $90 from $85 at Barclays
- Trip.com Group’s Earnings Call: Strong Growth and Optimism