智通财经APP获悉，交银国际发布研报称，维持携程集团-S(09961)“买入”评级，目标价605港元。该行仍看好出游需求释放潜力，国内运营杠杆效应、AI响应率提高带来的成本节约空间，将部分缓释利润率短期压力。
报告指，2024年第四季度总收入同比增24%，调整后净利率同比下降2个百分点，因Trip.com海外品牌营销增加投入。交银国际预计携程收入仍有上调空间，料2025年公司收入增17%，高于指引的14-15%，较该行此前预测上调约3%，主要因该行对出境业务及Trip.com增长前景更为乐观。基于短期海外地区投入的影响，该行下调2025年利润预测3%。
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