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23118 MBTCTRA@EC2506A (CALL)
RT Nominal unchange0.460 0.000 (0.000%)

19/07/2024 15:59

{I-bank focus}UBS lowers Tongcheng Travel (00780) to HKD23

[ET Net News Agency, 19 July 2024] UBS lowered the target price for Tongcheng Travel
(00780) to HKD23 from HKD25 and maintained the "buy" rating.
The research house said it factors in some conservatism in previous estimates, and now
expects Tongcheng's 2Q/2024E Core OTA revenue to grow 20.9%/23.8% YoY, which are roughly
in line with consensus. (rc)

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