TRIP.COM-S (09961.HK) -9.200 (-2.091%) Short selling $97.84M; Ratio 9.609% 's share price has soared 58% YTD, significantly outperforming its peers, JPMorgan released a research report saying. JPMorgan believed that this is due to a positive revaluation of its earnings forecast, an increase in the overall valuation of the industry, and an improvement in the mid- to long-term earnings outlook as a result of a recovery in travel demand.
JPMorgan maintained a positive outlook on its share price on a 6-12 months view, mainly due to the structural improvement in margins in the local market, the gain in outbound travel market share, which will drive earnings growth in the coming quarters, and the strong growth of its international online travel platform business, which will support the sustainability of long-term earnings growth.
JPMorgan elevated its target price on TRIP.COM-S' H-shares from $424 to $550, and raised its 2024/ 2025 adjusted EPS forecasts by 16%/ 8% respectively, with rating kept at Overweight.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-22 16:25.)
