Trip.com's Margins Likely Pressured by Aggressive Expansion -- Market Talk

Dow Jones

2025/02/26

0703 GMT - Trip.com's margins could narrow in 2025 amid an aggressive expansion, CGS International analyst Lei Yang says in a research note. The analyst forecasts Trip.com's 2025 non-GAAP operating margin to narrow by 2.4 percentage point to 27.8% as the company plans to expand its international platform in Asia. The brokerage projects the online travel-booking platform's 2025 revenue to grow 15%, supported by its domestic, outbound travel and international businesses, the analyst notes. CGS International reiterates its add rating on Trip.com, saying the company should continue to benefit from strong travel demand and improved efficiency with wider use of AI tools. However, the brokerage trims its H-share target price to HK$604.00 from HK$638.00 due to likely weaker operating margins. Shares are last at HK$476.60. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

February 26, 2025 02:03 ET (07:03 GMT)

應版權方要求，你需要登入查看該內容

登入 / 註冊

免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。

熱議股票

{"basename":"/hant","ssrTDKData":{"titleTemplate":"%s - 老虎證券","title":"老虎证券全球投资理财平台| 一站式投资美股新股港股A股","description":"老虎证券助您一站式投资美股，新股，港股，A股等全球金融理财产品。新加坡华人最信赖的在线投资平台，现在加入即享低费用，24/5 无时差炒美股投资理财！","keywords":"老虎證券,老虎證券開戶,老虎券商,老虎證券官網,老虎證券app,tigertrade老虎證券,股票,炒股,新加坡股票交易平臺,投資,投資理財","social":{"ogDescription":"老虎证券助您一站式投资美股，新股，港股，A股等全球金融理财产品。新加坡华人最信赖的在线投资平台，现在加入即享低费用，24/5 无时差炒美股投资理财！","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/hant/news/2514009536"},"companyName":"老虎證券"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2514009536\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2514009536?lang=zh_TW&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-02-26 15:03","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2514009536","market":"sh","top_or_hot":-1,"title":"Trip.com's Margins Likely Pressured by Aggressive Expansion -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0703 GMT - Trip.com's margins could narrow in 2025 amid an aggressive expansion, CGS International analyst Lei Yang says in a research note. The analyst forecasts Trip.com's 2025 non-GAAP operating margin to narrow by 2.4 percentage point to 27.8% as the company plans to expand its international platform in Asia. The brokerage projects the online travel-booking platform's 2025 revenue to grow 15%, supported by its domestic, outbound travel and international businesses, the analyst notes. CGS International reiterates its add rating on Trip.com, saying the company should continue to benefit from strong travel demand and improved efficiency with wider use of AI tools. However, the brokerage trims its H-share target price to HK$604.00 from HK$638.00 due to likely weaker operating margins. Shares are last at HK$476.60. (sherry.qin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 26, 2025 02:03 ET (07:03 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trip.com's Margins Likely Pressured by Aggressive Expansion -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrip.com's Margins Likely Pressured by Aggressive Expansion -- Market Talk\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-02-26 15:03</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0703 GMT - Trip.com's margins could narrow in 2025 amid an aggressive expansion, CGS International analyst Lei Yang says in a research note. The analyst forecasts Trip.com's 2025 non-GAAP operating margin to narrow by 2.4 percentage point to 27.8% as the company plans to expand its international platform in Asia. The brokerage projects the online travel-booking platform's 2025 revenue to grow 15%, supported by its domestic, outbound travel and international businesses, the analyst notes. CGS International reiterates its add rating on Trip.com, saying the company should continue to benefit from strong travel demand and improved efficiency with wider use of AI tools. However, the brokerage trims its H-share target price to HK$604.00 from HK$638.00 due to likely weaker operating margins. Shares are last at HK$476.60. (sherry.qin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 26, 2025 02:03 ET (07:03 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0359202008.SGD","symbol_name":"Blackrock China Fund A2 SGD-H","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2514009536","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2514009536","pubTimestamp":1740553380,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0703 GMT - Trip.com's margins could narrow in 2025 amid an aggressive expansion, CGS International analyst Lei Yang says in a research note. The analyst forecasts Trip.com's 2025 non-GAAP operating margin to narrow by 2.4 percentage point to 27.8% as the company plans to expand its international platform in Asia. The brokerage projects the online travel-booking platform's 2025 revenue to grow 15%, supported by its domestic, outbound travel and international businesses, the analyst notes. CGS International reiterates its add rating on Trip.com, saying the company should continue to benefit from strong travel demand and improved efficiency with wider use of AI tools. However, the brokerage trims its H-share target price to HK$604.00 from HK$638.00 due to likely weaker operating margins. Shares are last at HK$476.60. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU0051755006.USD":"摩根大通中国A (dist)","LU0048575426.USD":"FIDELITY EMERGING MARKETS \"A\" INC","BK4531":"中概回港概念","LU0594300419.USD":"富达中国消费基金A","LU0261950470.USD":"FIDELITY EMERGING MARKETS \"A\" ACC","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","LU1720050803.USD":"安联全方位中国股票基金","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","IE00B543WZ88.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) ACC","LU1868837722.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"2\" (USD) ACC","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","LU1961090484.USD":"ALLIANZ ALL CHINA EQUITY \"A\" (USD) INC","LU0737861772.HKD":"FIDELITY EMERGING ASIA \"A \" (HKD) ACC","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","LU1868837565.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"1\" (USD) ACC","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","LU0049853897.USD":"SCHRODER ISF EMERGING MARKETS \"A\" (USD) INC AV","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","TCOM":"携程网","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD","LU0143863784.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES\"DU\" (USD) ACC","LU0329678170.USD":"FIDELITY EMERGING ASIA \"A\" (USD) INC","BK4588":"碎股","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","LU2152927971.USD":"NORDEA 1 ASIAN STARS EQUITY \"BP\" (USD) ACC","LU0561508036.HKD":"ALLIANZ CHINA EQUITY \"A\" (HKD) INC","BK4142":"酒店、度假村与豪华游轮","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU0359201885.HKD":"BGF CHINA \"A2\" (HKD) ACC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU2399975544.HKD":"ALLIANZ ALL CHINA EQUITY \"AT\" (HKD) ACC","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","LU0048580855.USD":"富达大中华区A","SG9999000475.SGD":"Aberdeen Standard Singapore Equity SGD","LU0106252389.USD":"SCHRODER ISF EMERGING MARKETS \"A\" ACC","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","LU0650527681.SGD":"Fidelity China Consumer A-SGD","IE00BPRC5H50.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) INC","LU0593848301.USD":"未来资产亚洲卓越消费股票基金A","LU0348827113.USD":"ALLIANZ RCM CHINA \"AT\" ACC","LU1868838027.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"8\" (USD) ACC","LU0228659784.USD":"施罗德金砖四国基金","BK4526":"热门中概股","LU0143863198.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES\"AU\" (USD) ACC","LU0359201612.USD":"贝莱德中国基金A2"},"translate_title":"携程的利润率可能因激进扩张而承压——市场传言","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"K3RD.SI":0.9,"TCOM":1},"content_text":"0703 GMT - Trip.com's margins could narrow in 2025 amid an aggressive expansion, CGS International analyst Lei Yang says in a research note. The analyst forecasts Trip.com's 2025 non-GAAP operating margin to narrow by 2.4 percentage point to 27.8% as the company plans to expand its international platform in Asia. The brokerage projects the online travel-booking platform's 2025 revenue to grow 15%, supported by its domestic, outbound travel and international businesses, the analyst notes. CGS International reiterates its add rating on Trip.com, saying the company should continue to benefit from strong travel demand and improved efficiency with wider use of AI tools. However, the brokerage trims its H-share target price to HK$604.00 from HK$638.00 due to likely weaker operating margins. Shares are last at HK$476.60. (sherry.qin@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 26, 2025 02:03 ET (07:03 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}