Morgan Stanley analyst Alex Poon named Trip.com Group (TCOM) a “Research Tactical Idea,” citing the belief that the share price will rise in absolute terms over the next 60 days. The sell-down by Baidu (BIDU) is “complete” with 8.8% remaining and the firm expects revenue and profit growth acceleration versus 2019 in the upcoming Dragon Boat holiday that occurs June 22-24, said the analyst, who keeps an Overweight rating and $55 price target on Trip.com shares.
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Published first on TheFly
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