New Street Research - Trip.com Group Ltd (9961) ... TCOM 1Q23 Results: Robust Demand into 2H

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New Street Research

Jin Yoon

TCOM 1Q23 Results: Robust Demand into 2H

What's new: Trip.com’s reported 1Q23 results were above consensus and our expectations. Travel activities could remain robust in 2Q and heading into summer driven by pent up demand in both domestic and outbound markets. We maintain our PT at USD 45.

Analysts:
Jin Yoon

08/06/2023 1 EN

Underlyings

Trip.com Group Ltd

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Trip.com TCOM US

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

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Analysts

Jin Yoon

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TCOM 1Q23 Results: Robust Demand into 2H

REG: Strategy: Alpha Picks - February 2024

Greater China Strategy Alpha Picks: February Conviction Calls

China Online Travel Agencies: Strong travel demand visibility into 2024.

SATS, Carr, and the Art of the No Deal…Yet

Supreme Court Upholds USF Framework but Reform Still Ahead

CMCSA quick hit: Comcast continues to make the right pricing moves

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