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<Research>Citi Expects TRIP.COM-S 4Q25 Results to Be In Line, Drops US Stock TP to US$82 on Survey Impact
Citi Research expected TRIP.COM-S (09961.HK)'s 4Q25 revenue and adjusted operating profit to be largely in line with market expectations. During the traditional peak season in ...
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<Research>Citi Expects TRIP.COM-S 4Q25 Results to Be In Line, Drops US Stock TP to US$82 on Survey Impact
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Citi Research expected TRIP.COM-S (09961.HK)  -0.400 (-0.083%)    Short selling $40.73M; Ratio 4.040%   's 4Q25 revenue and adjusted operating profit to be largely in line with market expectations. During the traditional peak season in 4Q25, TRIP.COM-S may continue to expand its market share, while its domestic hotel business could benefit from a rebound in average daily rate (ADR) and solid growth in room nights.

The broker lowered its 2026/ 2027 adjusted earnings forecasts by 9%/ 5% each to reflect the potential impact on its domestic hotel business, and dropped its target price for Trip.com Group (TCOM.US)      's US stock from US$86 to US$82. Citi Research forecasted the stock price to fluctuate within a range during the antitrust investigation.

Related NewsBofAS Cuts TRIP.COM-S TP to HKD612, Expects Last Qtr's Adjusted NP to Rise 7% YoY
Once the investigation concludes, investors will have clearer visibility on its fundamental outlook. Based on TRIP.COM-S' industry leading position, the broker kept rating at Buy.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-01-30 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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