Trip.com Group Limited (TCOM) saw its shares surge 5.01% in intraday trading on Tuesday, as the Chinese travel company benefited from an analyst rating upgrade and broader investor optimism around Chinese tech and internet stocks.
DBS analyst Sachin Mittal maintained a Buy rating on Trip.com and raised the price target to HK$646, citing positive factors for the company's growth prospects. Meanwhile, Chinese ADRs and tech stocks rallied broadly, with electric vehicle makers like Li Auto, XPeng, and Nio gaining on news of new product launches and easing regulatory concerns.
Trip.com itself reported its latest quarterly earnings recently, highlighting both growth opportunities and challenges in the rapidly evolving online travel market. Investors appear to be betting that the company's focus on expanding its services and leveraging technology will drive continued momentum.
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