---
title: "In \"Major Banks,\" China International Capital Corporation lowered Trip.com’s target price to 545.1 yuan, with fourth-quarter performance exceeding expectations, continuing to urge a buy"
description: "CICC lowered Trip.com’s target price to RMB 545.1, maintaining an \"outperform\" rating. Trip.com’s revenue in the fourth quarter grew 21% year-on-year to RMB 15.4 billion, exceeding market expectations"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/277165137.md"
published_at: "2026-02-27T08:27:16.000Z"
---

# In "Major Banks," China International Capital Corporation lowered Trip.com’s target price to 545.1 yuan, with fourth-quarter performance exceeding expectations, continuing to urge a buy

> CICC lowered Trip.com’s target price to RMB 545.1, maintaining an "outperform" rating. Trip.com’s revenue in the fourth quarter grew 21% year-on-year to RMB 15.4 billion, exceeding market expectations by 4%. The non-GAAP net profit was RMB 3.5 billion, surpassing expectations by 8%. Considering regulatory and internationalization risks, the revenue and net profit forecasts for 2026 were lowered by 1% and 13%, respectively

According to a research report by China International Capital Corporation (CICC), Trip.com (09961.HK) reported a 21% year-on-year revenue growth in the fourth quarter to RMB 15.4 billion, which is 4% higher than market expectations, mainly driven by better-than-expected revenue from accommodation, travel vacations, and business travel management, although partially offset by increased marketing expenses. The non-GAAP operating profit was RMB 3.2 billion, slightly exceeding market expectations by 1.5%; the non-GAAP net profit was RMB 3.5 billion, 8% higher than market expectations.

Considering potential regulatory and internationalization investment risks, the firm has lowered its revenue and non-GAAP net profit forecasts for 2026 by 1% and 13%, to RMB 69.1 billion and RMB 17.1 billion, respectively, and introduced forecasts for 2027 of RMB 75.4 billion and RMB 18.5 billion. The firm is optimistic about the company's long-term value and competitiveness, maintaining an "outperform" rating, but has reduced the target prices for Trip.com (TCOM.US) on the US and Hong Kong stock markets by 24% and 23%, to USD 70 and HKD 545.1, respectively

### Related Stocks

- [BEDZ.US - AdvisorShares Hotel ETF](https://longbridge.com/en/quote/BEDZ.US.md)
- [AWAY.US - ETFMG Travel Tech ETF](https://longbridge.com/en/quote/AWAY.US.md)
- [TCOM.US - Trip.com](https://longbridge.com/en/quote/TCOM.US.md)
- [09961.HK - TRIP.COM-S](https://longbridge.com/en/quote/09961.HK.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.