Trip.com (TCOM) Stock Rises on Goldman Sachs Rating Upgrade

Dec 09, 2024

Trip.com (TCOM, Financial) shares increased by 7.66% to $74.36 in pre-market trading. Goldman Sachs analyst Simon Cheung maintained a "buy" rating on Trip.com and raised the target price from $75 to $83. Goldman Sachs highlighted that two years after the pandemic, China's travel demand has largely normalized. They anticipate simultaneous growth in outbound and inbound tourism in China next year, which will benefit online travel agencies (OTA) and boost the hotel and airline industries.

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