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<Research>Daiwa Lifts TRIP.COM-S (09961.HK) TP to $675; Quarterly GM Beats
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TRIP.COM-S (09961.HK)'s 3Q24 results were highlighted by a non-GAAP operating profit margin of 34.4%, which surpassed market consensus, mainly due to operational leverage in service contact centers and the application of AI, according to a report from Daiwa. Although some investors are concerned about the sustainability of TRIP.COM-S' business growth in the macro environment, the broker believed that the company could achieve an annual growth rate of 15-25% in 2023-2028 on the back of increased market share and higher overseas revenue contributions. Daiwa raised its 2024-2026 EPS forecast for TRIP.COM-S by 2-4%. It also reiterated a Buy rating, with a target price lifted from $662 to $675. AAStocks Financial News |
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