Major Bank Ratings | UBS: Reiterates "Buy" Rating for Trip.com, Expects Steady Growth Across All Business Lines This Year

Glonhui, January 13th | UBS released a research report stating that with Trip.com Group’s domestic business steadily recovering, expanding outbound travel demand, and strong growth in the inbound market, it is expected that all business lines will maintain robust growth through 2026. UBS reiterated its “Buy” rating on Trip.com’s US stock and set a target price of $90. According to the report, Trip.com’s management expects domestic business to continue its growth momentum into 2026. UBS forecasts that domestic business will see high double-digit growth, mainly benefiting from the continuous rebound of hotel average daily rates and expansion of market share. For overseas business, Trip.com expects a compound annual growth rate of about 50% in revenue from 2023 to 2027, which means it could achieve a strong year-on-year growth of 40% to 50% in 2026.