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<Research>Citi: TONGCHENGTRAVEL (00780.HK) Financial Outlook Steady; Rating Buy Kept
Recommend 2 Positive 1 Negative 3 |
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TONGCHENGTRAVEL (00780.HK) had largely met expectations in its 4Q25 results, Citi said in a report. Looking ahead to 2026, the broker expected hotel room nights to continue to grow at a healthy level of high-single digit YoY; the ADR for hotels was also estimated to mark a decent industry recovery. Citi slightly adjusted the earnings forecasts for TONGCHENGTRAVEL for 2026 and 2027, setting a target price of HKD28. Despite weak market sentiment and investor concerns about the regulatory environment, the Buy rating was maintained, given valuation at merely 10x 2026E PE and steady financial outlook. AASTOCKS Financial News Website: www.aastocks.com |
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