Citigroup raises Trip.com target price to $86, maintains "Buy" rating

AASTOCKS
2025.11.19 02:43

Citigroup released a report indicating that Trip.com (09961.HK)(TCOM.US) is expected to have third-quarter performance in 2025 that is generally in line with expectations. Trip.com recorded strong booking volume growth, with a year-on-year increase of over 60% in the third quarter, and over 50% year-on-year growth in the Asia-Pacific region, while the momentum in Europe and the Middle East is encouraging.

The firm expects that despite facing a high year-on-year comparison base, the growth momentum will largely continue into the fourth quarter of 2025, driven by increased user engagement and the company's ongoing product and service upgrades, which will be reflected in the upcoming peak travel season.

Based on the better-than-expected revenue performance in the third quarter, the firm has raised its earnings forecasts for 2025 to 2027 by 1.7%, 0.3%, and 0.2%, respectively, with the target price for Trip.com’s U.S. stock adjusted from $85 to $86. The "Buy" rating is maintained, reflecting the resilience of domestic business in China and the strong momentum of Trip.com's international business

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