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<Research>Nomura: TRIP.COM-S (09961.HK) 2025 Mgmt Guidance Misses Mkt Consensus
Recommend
8
Positive
21
Negative
14
TRIP.COM-S (09961.HK) (TCOM.US) was under pressure today after announcing 2024 results. The stock once dived 12.4% to a low of $459.4 during the intraday trading session, and last plummeted 10.9% to $467, with a turnover of $3.596 billion, being the biggest loser among blue chips.

TRIP.COM-S' 2025 management guidance was weaker than the market consensus, with a non-GAAP gross operating margin guidance of about 28%, below the market's general expectation of 28.5%, Nomura released a research report saying.

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TRIP.COM-S' 4Q24 results were better than expected, with revenue rising 23% YoY to RMB12.7 billion, beating the estimations of the market/ the broker by 3%/ 4% respectively, Nomura added.

Therefore, Nomura kept rating at Neutral for Trip.com Group (TCOM.US), with a target price of US$61.
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