JPMorgan analyst Alex Yao upgraded Trip.com Group to Overweight from Neutral with a price target of $50, up from $39. The firm’s bullish view is based more on market share gains due to sustainable factors and less on a general outbound travel market recovery. The analyst sees structural growth opportunities for Trip.com in areas such as outbound travel and corporate travel, driven by accelerating market share gains, optimized supply chain and improving operating efficiency. In the short term, pent-up demand offers upside risk to consensus estimates for Q2 and Q3, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TCOM:
- Citi opens ‘positive catalyst watch’ on Trip.com into earnings
- Trip.com Group management to meet virtually with Benchmrk
- Billionaire Ken Griffin Says the Chinese Equity Market Is Incredibly Attractive — Here Are 3 Stocks to Take Advantage
- Trip.com Group named ‘Research Tactical Idea’ at Morgan Stanley
- Trip.com Group price target raised to $39 from $37 at JPMorgan