19 January 2026 | 7:06PM HKT Equity Research Trip.com Group (TCOM) Analysis on potential impact from greater hotel segment competition: profit breakdown and earnings sensitivity; Buy | TCOM | 12m Price Target: $87.00 | Price: $61.77 | Upside: 40.8% | | --- | --- | --- | --- | | 9961.HK | 12m Price Target: HK$676.00 | Price: HK$466.20 | Upside: 45.0% | TCOM's share price has fallen by ~20% over the past three days following its announcement that the State Administration for Market Regulations of the PRC (SAM ...