Tongcheng Travel's Outlook Remains Positive -- Market Talk

Dow Jones08-23

0215 GMT - Tongcheng Travel's outlook remains positive after the Chinese travel company posted better-than-expected 2Q results, DBS Group Research analysts say in a report. They expect the company's core online travel agency revenue to grow 21% on year in 2024, due to more travel spending from lower-tier cities. DBS notes that the company's management has mentioned that there will be a 1ppt-2ppt drag in 2024 adjusted net profit due to its international business expansion. "However, they expect the business to break even in adjusted net profit in [2025] and provide incremental earnings going forward," DBS says. The bank has a buy rating and target price of HK$23.00 on the stock, which is 1.2% higher at HK$13.54.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

August 22, 2024 22:15 ET (02:15 GMT)

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DBS notes that the company's management has mentioned that there will be a 1ppt-2ppt drag in 2024 adjusted net profit due to its international business expansion. \"However, they expect the business to break even in adjusted net profit in [2025] and provide incremental earnings going forward,\" DBS says. 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They expect the company's ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0577902454.USD","symbol_name":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2461588284","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2461588284","pubTimestamp":1724379300,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0215 GMT - Tongcheng Travel's outlook remains positive after the Chinese travel company posted better-than-expected 2Q results, DBS Group Research analysts say in a report. They expect the company's core online travel agency revenue to grow 21% on year in 2024, due to more travel spending from lower-tier cities. DBS notes that the company's management has mentioned that there will be a 1ppt-2ppt drag in 2024 adjusted net profit due to its international business expansion. \"However, they expect the business to break even in adjusted net profit in [2025] and provide incremental earnings going forward,\" DBS says. 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They expect the company's core online travel agency revenue to grow 21% on year in 2024, due to more travel spending from lower-tier cities. DBS notes that the company's management has mentioned that there will be a 1ppt-2ppt drag in 2024 adjusted net profit due to its international business expansion. \"However, they expect the business to break even in adjusted net profit in [2025] and provide incremental earnings going forward,\" DBS says. The bank has a buy rating and target price of HK$23.00 on the stock, which is 1.2% higher at HK$13.54.(amanda.lee@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  August 22, 2024 22:15 ET (02:15 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2461588284"}