---
title: "In \"The Big Banks,\" China International Capital Corporation raised Trip.com's target price to 638 yuan, with third-quarter performance exceeding expectations"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/266487324.md"
description: "The report from Bank of China International indicates that Trip.com’s performance in the third quarter exceeded expectations, with revenue and non-GAAP operating profit increasing by 16% and 12%, respectively. Despite a weak macroeconomic environment, Trip.com still experienced good growth in its core markets. It is expected that China's stable competitive landscape will support overseas expansion. The tension in China-Japan relations has limited impact on outbound business, reaffirming a \"Buy\" rating, with the target price raised to 638 yuan"
datetime: "2025-11-19T06:42:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/266487324.md)
  - [en](https://longbridge.com/en/news/266487324.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/266487324.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/266487324.md) | [繁體中文](https://longbridge.com/zh-HK/news/266487324.md)


# In "The Big Banks," China International Capital Corporation raised Trip.com's target price to 638 yuan, with third-quarter performance exceeding expectations

Bank of China International published a report stating that Trip.com (09961.HK) exceeded market expectations in its third-quarter financial report, with revenue and non-GAAP operating profit growing by 16% and 12% year-on-year, respectively, reflecting significant progress in traffic acquisition in both domestic and overseas markets (Trip.com platform).

As of the fourth quarter of 2025, although the macroeconomic environment has softened, Trip.com still recorded good growth in its core market. The bank expects that the stable competitive landscape in China's domestic market will allow Trip.com to focus more on driving expansion in overseas markets.

The report indicated that even though recent tensions in Sino-Japanese relations may have some impact on outbound business, based on the experience of reduced travel by Chinese tourists to Thailand, this impact on Trip.com's earnings is relatively limited. It reiterated a "Buy" rating and raised the target price from 630 yuan to 638 yuan

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- [Trip.com (TCOM.US)](https://longbridge.com/zh-CN/quote/TCOM.US.md)
- [TRIP.COM-S (09961.HK)](https://longbridge.com/zh-CN/quote/09961.HK.md)

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