[ET Net News Agency, 16 June 2021] Daiwa initiates coverage of Trip.com (09961) with a
target price of HK$293 and a "hold" rating.
The research house said it arrives at its 12-month TP of HK$293 by assigning a 25x PER
to 2022E earnings and discounted back by one year, since it expects 2021E earnings to be
distorted. (RC)