Trip.com Expected To Fully Recover FY23 Revenues Despite Soft Macro Conditions, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Mizuho analyst James Lee reiterated a Buy rating on Trip.com Group Ltd (TCOM) and raised the price target from $50 to $55. The company's Q2 FY23 revenues rose 180% Y/Y to RMB11.2 billion, led by a travel market recovery. The analyst expects FY23 revenue to fully recover and grow 23% vs. FY19. The analyst also increased FY24E EBITDA by 8% to RMB12.2 billion and introduced FY25E EBITDA at RMB13.4 billion.
September 05, 2023 | 5:57 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Mizuho analyst James Lee reiterated a Buy rating on Trip.com and raised the price target from $50 to $55. The company's Q2 FY23 revenues rose 180% Y/Y, and the analyst expects FY23 revenue to fully recover and grow 23% vs. FY19.
The analyst's positive outlook on Trip.com, including a reiterated Buy rating and increased price target, indicates strong confidence in the company's performance. The significant Y/Y revenue growth and expected full recovery of FY23 revenue also suggest a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100