花旗发表研报指，维持对同程旅行(00780.HK) 2025财年第一季业绩预测，与市场预期大致相符。尽管同程年初至今的酒店平均每日房价(ADR)表现低于预期，但该行认为其首季核心线上旅游平台(OTA)业务可能仍有望达标，住宿业务因其对低端酒店的较高敞口而保持不错的势头，其ADR相较行业更具韧性；至于旅游业务按年下跌可能超出预期，因商务需求疲弱，但其对利润的贡献有限。
花旗认为，同程核心OTA业务收入增长在第二季可能暂时放缓，但料2025财年下半年将录得加速，主要得益于2024财年第二季的高基数及自去年5月起缩减低质量业务。该行将同程目标价由24元上调至26元，维持“买入”评级。(js/j)(港股报价延迟最少十五分钟。沽空资料截至 2025-04-16 16:25。)
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