The analyst rating from Citi Research for Trip.com Group (TCOM.US) and TONGCHENGTRAVEL (00780.HK) was maintained at "Buy" due to the positive performance in passenger throughput during the Spring Festival travel rush. The report highlighted a 4% year-over-year increase in total passenger volume, with particularly strong growth in the first four days of the holiday, where total volume rose by 6.8% year-over-year. This strong performance across various transportation modes (railway, airline, roadway, and waterway) contributed to the optimistic outlook and the decision to keep the ratings at Buy, along with target prices of US$82 and $28, respectively.

Citi

Buy

maintain

$28

2026-01-22

Reason

Citi

Price Target

$28

2026-01-22

maintain

Buy

Reason

The analyst rating for TONGCHENGTRAVEL (00780.HK) is positive due to several factors highlighted in the article. Citi's research report indicates that the company is expected to announce its 4Q25 results in mid-March, with revenue and adjusted profit likely to meet expectations. The anticipated growth in hotel revenue by 15.8% year-over-year is attributed to the recovery of average room revenue and a low double-digit growth in room nights. Additionally, improved commission rates in transportation ticketing revenue are expected to contribute positively. Citi maintains a short-term positive view on TONGCHENGTRAVEL, supported by reasonable valuation and the upcoming peak travel season during the Spring Festival. As a result, they have kept their target price at HKD28 and maintained a Buy rating, reflecting confidence in the company's stable fundamentals and growth prospects.

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00780 Should I Buy

00780 Should I Buy

Should You Buy TONGCHENGTRAVEL (00780) Today? Analysis, Price Targets, and 2026 Outlook.

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