智通财经APP获悉，中信证券发布研报称，首予携程集团-S(09961)“买入”评级，对应目标价660港元。报告表示，近期携程集团因自身舆论及国际政治波动对出境旅游造成的潜在负面影响，股价波动。该行认为，短期舆论影响可控，长期而言，集团作为OTA龙头份额大概率不会降低，且对整体业绩影响较小。
该行预计，2026年携程集团境内收入增9%、出境增12%、纯海外增34%，整体收入增速13%，经调整净利润225.8亿人民币。当前估值约16.5倍，低于历史估值中枢的18倍，建议逢低布局。展望2026年，该行预计境内酒店价格逐步企稳回升、竞争格局相对稳定的背景下公司境内酒店业务增速有望持续领先行业，同时Trip.com有望驱动海外业务延续高增长，携程有望持续实现份额提升与利润释放。
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