Core Viewpoint - UBS forecasts Tongcheng Travel (00780) to experience stable growth in core OTA revenue for Q3, with an expected year-on-year increase of 14%, approaching the previous guidance range of 10-15% [1] Revenue Projections - The travel demand during the National Day holiday has become normalized, but UBS believes that Tongcheng's hotel revenue will remain resilient [1] - The company’s accommodation revenue growth is projected to be in the mid-teens percentage range [1] Target Price and Rating - UBS has raised the target price for Tongcheng from HKD 25.5 to HKD 26.5, maintaining a "Buy" rating [1] Transportation Business - In terms of transportation services, UBS predicts a high single-digit year-on-year revenue growth for Tongcheng in Q3 [1]
瑞银：升同程旅行目标价至26.5港元 相信酒店收入应可保持韧性