--- title: "JPM Cuts TRIP.COM-S TP to HKD560; Rectification Does Not Hurt Profitability" type: "News" locale: "en" url: "https://longbridge.com/en/news/294139465.md" description: "JPMorgan cut Trip.com's H-share target price to HKD560 and US share target to USD72, maintaining an Overweight rating. The broker views recent weakness as cyclical rather than structural damage from anti-monopoly rectification, which does not impair long-term profitability. Revenue forecasts for Q3 and Q4 2026 were lowered by 6% and 4% respectively due to macro headwinds, but JPM recommends accumulating the stock." datetime: "2026-07-29T02:17:01.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294139465.md) - [en](https://longbridge.com/en/news/294139465.md) - [zh-HK](https://longbridge.com/zh-HK/news/294139465.md) --- # JPM Cuts TRIP.COM-S TP to HKD560; Rectification Does Not Hurt Profitability JPM released a research report saying the market may tend to interpret TRIP.COM-S (09961.HK) +11.400 (+3.265%) Short selling $457.91M; Ratio 25.315% 's weak performance in 2H26 as structural damage caused by anti-monopoly rectification. The broker believes the weakness is mainly cyclical in nature, and that regulation changes the commercial form of monetization rather than damaging TRIP.COM-S (09961.HK) +11.400 (+3.265%) Short selling $457.91M; Ratio 25.315% 's profitability. It recommended investors accumulate the stock. JPM noted that the anti-monopoly fine is a known, measurable and largely one-off impact, while the effect of the company's business transformation is also temporary. The broker lowered its forecasts for TRIP.COM-S (09961.HK) +11.400 (+3.265%) Short selling $457.91M; Ratio 25.315% 's total revenue in 3Q26 and 4Q26 by 6% and 4%, respectively, mainly due to the weak macro environment. It also cut the H-share TP from HKD600 to HKD560, while lowering the US share TP for Trip.com Group Limited (TCOM.US) from USD75 to USD72. Both ratings were maintained at Overweight. TRIP.COM-S (09961.HK) +11.400 (+3.265%) Short selling $457.91M; Ratio 25.315% once peaked at HKD362.6 this morning and is now trading at HKD361.6, up 3.55%, with 592,600 shares traded, involving HKD212 million in turnover. (sl/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-28 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.) ### Related Stocks - [TCOM.US](https://longbridge.com/en/quote/TCOM.US.md) - [09961.HK](https://longbridge.com/en/quote/09961.HK.md) - [JPM.US](https://longbridge.com/en/quote/JPM.US.md) - [JPM-M.US](https://longbridge.com/en/quote/JPM-M.US.md) - [JPM-C.US](https://longbridge.com/en/quote/JPM-C.US.md) - [JPM-D.US](https://longbridge.com/en/quote/JPM-D.US.md) - [JPM-L.US](https://longbridge.com/en/quote/JPM-L.US.md) - [8634.JP](https://longbridge.com/en/quote/8634.JP.md) - [JPM-K.US](https://longbridge.com/en/quote/JPM-K.US.md) - [JPM-J.US](https://longbridge.com/en/quote/JPM-J.US.md) - [HTGD.SG](https://longbridge.com/en/quote/HTGD.SG.md) ## Related News & Research - [05:30 ETNew Trip.Biz Research Finds 53% of Business Travellers Book Outside Approved Channels Due to Lack of Content](https://longbridge.com/en/news/289759776.md) - [22:43 ETTrip.com Group Releases 2025 Sustainability Report, Announces New Global Paid Paternity Leave Policy](https://longbridge.com/en/news/295171907.md) - [Loma Negra: Buy Rating Maintained Despite EBITDA Cuts and Target Price Trim to $13 on Cyclical Weakness and 2026–2027 Recovery Potential](https://longbridge.com/en/news/295698875.md) - [Travis Perkins Stock And 2 UK Cyclicals Tied To Domestic Growth](https://longbridge.com/en/news/295821572.md) - [Is Trip.com Group (TCOM) Cheap On Its Travel Growth Narrative?](https://longbridge.com/en/news/292516310.md)