Morgan Stanley Upgrades Trip.com Group Limited (TCOM) to Overweight
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(Updated - May 17, 2021 6:19 AM EDT)
Morgan Stanley analyst Alex Poon upgraded Trip.com Group Limited (NASDAQ: TCOM) from Equalweight to Overweight with a price target of $50.00 (from $40.00).
The analyst comments "We see an upward revenue revision cycle beginning in 2Q21 driven by normalized domestic travel. We also think the Street will price-in a recovery in outbound travel in the next 12 months. We also lay out our bull case where TCOM regains share in lower-tier cities."
Shares of Trip.com Group Limited closed at $37.51 yesterday.
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