Citi opens ‘positive catalyst watch’ on Trip.com into earnings

Citi analyst Brian Gong opened a "90-day positive catalyst watch" on shares of Trip.com Group ahead of the company’s Q1 results. The analyst sees pent-up demand during Labor Day and an outbound recovery ahead. While Trip.com’s valuation does not look cheap, there is "decent upside potential to earnings consensus," the analyst tells investors in a research note. The firm keeps a Buy rating on the shares with a $45 price target.