HSBC Global Research raised the target price for Tongcheng Travel (00780) to HKD19 from HKD17 and maintained the "hold" rating.
The research house said it believes 3Q likely marks the seasonal peak level of take rates as it was driven by a reduction in subsidies amid a busy season rather than structural uplift in take rates.
20/11/2024 15:59
{I-bank focus}HSBC raises Tongcheng Travel (00780) to HKD19
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