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<Research>CLSA Raises Trip.com (TCOM.US) TP to USD82 w/ Higher Earnings Forecast; 3Q Results Beat
Recommend 4 Positive 3 Negative 1 |
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According to a CLSA research report, TRIP.COM-S (09961.HK) (TCOM.US)'s 3Q25 results were better than expected, with total revenue/ adjusted EBIT increasing by 15.5%/ 11.7% YoY to RMB18.4 billion/ RMB6.1 billion, 1%/ 4% higher than the broker's forecasts. TRIP.COM-S also saw its outbound and international travel businesses grow by over 20% and 60% YoY, providing a pleasant surprise. Long-distance travel becoming more popular during the summer and National Day Golden Weeks served as a boon for Trip.com. Considering that there will be an upside risk to next year's profit margin, CLSA has raised its 2025 full-year adjusted earnings forecast for TRIP.COM-S by 80% to reflect its strong performance in 4Q25 and the proceeds from the sale of MakeMyTrip shares. Trip.com (TCOM.US)'s target price has been lifted from USD75 to USD82, with an Outperform rating remaining in place. AAStocks Financial News |
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