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<Research>Brokers' Latest Views & TPs on TRIP.COM-S After SAMR Launches Anti-Monopoly Investigation
Recommend 59 Positive 67 Negative 49 |
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Broker│Investment Rating│Target Price Goldman Sachs│Buy│HKD706 JPMorgan│Overweight│HKD700 Jefferies│Buy│HKD685 Broker│View Daiwa│Regulatory uncertainty may dent investment sentiment, but buying opportunities will occur once remedies become clearer. Goldman Sachs│Past cases suggest that stock price fluctuation may happen in the medium term. JPMorgan│Valuation will likely be squeezed in the short term, but a new regulatory cycle will be rather unlikely. UBS│Investors are eyeing the impact of the investigation on the business model. Jefferies│The fine could be 3-4% of the previous year's local business revenue according to Alibaba and Meituan cases. Citi│The investigation will affect the sentiment towards TRIP.COM-S until it is completed, but is unlikely to change its industry position. Haitong Int'l│Valuation is still high, but investors should avoid risks before more information comes to light. CLSA│TRIP.COM-S may lose exclusive merchant cooperation rights, but it will maintain a strong moat, though it may need more merchant support, which may affect its short-term profit margin. Nomura│TRIP.COM-S is likely to be found in violation, which may affect its control over hotels and provide opportunities for competitors. AAStocks Financial News |
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