Trip.com Group Limited (TCOM) PT Raised to $33 at Jefferies; 'Long-Term Thesis Is Intact'
Jefferies analyst Thomas Chong raised the price target on Trip.com Group Limited (NASDAQ: TCOM) to $33.00 (from $30.00) while maintaining a Buy rating following Q2 results. The analyst said the long-term thesis is intact.
The analyst commented, "Trip.com reported 2Q results with total revenue and non-GAAP operating profit coming in ahead of expectations driven by domestic recovery in accommodation and transportation segments, as well as fast growth trend in international operations. Near-term softness due to pandemic outbreak does not change our long-term thesis based on its “Local Focus, Global Vision” strategies centered on content. Maintain Buy"