TCOM 3Q24 Results: Travel Demand Remains Resilient
What’s new: Trip.com’s reported 3Q24 revs that were largely in-line with consensus and our expectations. Travel demand could remain resilient where TCOM could continue to gain market share in both domestic and international markets in 4Q. We up our PT from US$65 to US$75 on resilient travel demand. Our revised PT implies an 18.5x FY25E P/E. We maintain our BUY rating.Analysts:
Jin Yoon
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