Trip.com Group price target raised to $36 from $30 at Mizuho

Mizuho analyst James Lee raised the firm’s price target on Trip.com Group to $36 from $30 and keeps a Buy rating on the shares. The company’s results came in above expectations despite facing rising COVID cases in the back half of Q3, Lee tells investors in a research note. However, Trip.com’s Q4 is tracking below consensus and fiscal 2023 expectations appear too aggressive as the recovery path "would likely lag the speed of positive policy changes," says the analyst. Despite near-term volatility, the analyst views the moderation of COVID restrictions as positive longer term.