New Street: TCOM 4Q21 Earnings - Covid Hiccup to Impact 2Q; Expect Domestic Travel to Snapback Quickly
What's new: Trip.com reported 4Q21 top-line results were above consensus and our expectations. While resurgence of cases in key cities such as Shanghai and Shenzhen have impacted domestic travel market, recovery in the first two months of the year suggest that domestic travel would snap back quickly once the situation is contained, which could happen by late-May. We maintain our BUY rating and maintain PT at USD30.Analysts:
Jin Yoon
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