Trip.com Group price target raised to $40 from $30 at Barclays

Barclays analyst Jiong Shao raised the firm’s price target on Trip.com Group to $40 from $30 and keeps an Overweight rating on the shares. With China having made a "decisive and swift pivot" to reopen the country from COVID-related lockdowns and travel restrictions, pent-up travel demand points to potentially sizable growth in 2023, though visibility is limited at this point, Shao tells investors in a research note. The analyst says Trip.com is highly leveraged to the reopening.