Trip.com Group price target raised to $53 from $43 at Bernstein

Bernstein raised the firm’s price target on Trip.com Group to $53 from $43 and keeps an Outperform rating on the shares. The company showcased robust cost savings alongside scaling revenue in Q4, which is expected to persist into 2024, the analyst tells investors in a research note. The firm says outbound revenue, fueled by the expanding radius beyond Asia, is the key driver for Trip.com’s fiscal 2024 growth.