---
title: "BOCI Cuts TONGCHENGTRAVEL TP to HKD19.5; 2Q Results May Slow but Medium- to Long-term Outlook Intact"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/294332989.md"
description: "BOCI cut Tongcheng Travel's target price to HKD19.5 from HKD22.7, citing slower Q2 profit growth due to weak travel demand and higher oil prices. Despite maintaining a Buy rating, the broker lowered revenue and profit forecasts for 2026. While short-term valuation faces pressure from regulatory concerns and soft demand, BOCI believes the medium-to-long-term outlook remains intact."
datetime: "2026-07-30T09:12:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/294332989.md)
  - [en](https://longbridge.com/en/news/294332989.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/294332989.md)
generator: "portal-rs"
---

# BOCI Cuts TONGCHENGTRAVEL TP to HKD19.5; 2Q Results May Slow but Medium- to Long-term Outlook Intact

TONGCHENGTRAVEL (00780.HK) -0.050 (-0.347%) Short selling $22.90M; Ratio 21.109% is set to announce its 2Q results. In a report, BOCI projected adjusted net profit for 2Q to grow only 8% YoY to RMB836 million, with the growth rate slowing radically from 19% in 1Q, owing to feeble travel demand in China caused by severe weather and rising oil prices. The broker cut its 2026 revenue and adjusted net profit forecasts by 0.6% and 2%, respectively, to reflect the softer 2Q performance.

Based on discounted cash flow valuation, it lowered the TP from HKD22.7 to HKD19.5, while maintaining a Buy rating. The broker believed short-term valuation is being pressured by regulatory concerns and weak travel demand in July, but the medium- to long-term outlook remains unchanged, with current valuation becoming more attractive.  
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-30 16:25.)

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