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<Research>CLSA Expects TONGCHENGTRAVEL Shr Price Volatility to Persist Amid Antitrust Probe Into TRIP.COM-S
Recommend 12 Positive 14 Negative 17 |
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CLSA wrote in its research report that it is almost impossible for TONGCHENGTRAVEL (00780.HK)'s share price to be left unaffected by the news of the antitrust probe into TRIP.COM-S (09961.HK), given that TRIP.COM-S is a major shareholder holding around a 26% stake in it. TONGCHENGTRAVEL's stock price fell by 12% yesterday (14th), which CLSA considers a reasonable market reaction. In the broker's estimate, it will continue to fluctuate over the next 3-6 months before the investigation results are announced, a situation similar to what TRIP.COM-S slid into. CLSA previously gave TONGCHENGTRAVEL a Hold rating with a target price of HKD22. AAStocks Financial News |
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