瑞银：升同程旅行(00780)目标价至26.5港元 相信酒店收入应可保持韧性
TONGCHENGTRAVELTONGCHENGTRAVEL(HK:00780) 智通财经网·2025-10-21 07:31

Core Viewpoint - UBS forecasts that Tongcheng Travel (00780) will 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, and UBS believes that Tongcheng's hotel revenue will remain resilient [1] - The company’s accommodation revenue is projected to grow at a mid-teens level [1] - In the transportation segment, UBS predicts a high single-digit year-on-year revenue growth for Tongcheng in Q3 [1] Target Price Adjustment - UBS has raised the target price for Tongcheng from HKD 25.5 to HKD 26.5 while maintaining a "Buy" rating [1]