Bank of America Forecasts Strong Price Appreciation for Trip.com Group (NASDAQ:TCOM) Stock

Trip.com Group (NASDAQ:TCOM) had its price target increased by research analysts at Bank of America from $83.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 21.69% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Citigroup increased their price target on shares of Trip.com Group from $85.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings upgraded shares of Trip.com Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Zacks Research cut shares of Trip.com Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Benchmark upped their price target on shares of Trip.com Group from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Barclays boosted their price objective on Trip.com Group from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Trip.com Group presently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

Trip.com Group Trading Up 0.1%

Shares of Trip.com Group stock opened at $69.85 on Thursday. The stock has a market cap of $45.63 billion and a PE ratio of 19.14. Trip.com Group has a 52-week low of $51.35 and a 52-week high of $78.65. The firm has a 50-day moving average of $72.84 and a 200-day moving average of $66.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.33 and a current ratio of 1.33.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TCOM. CIBC Bancorp USA Inc. purchased a new stake in Trip.com Group during the 3rd quarter valued at $56,979,000. Faithward Advisors LLC purchased a new position in Trip.com Group during the 3rd quarter valued at about $3,788,000. Coldstream Capital Management Inc. raised its holdings in shares of Trip.com Group by 93.8% during the third quarter. Coldstream Capital Management Inc. now owns 9,843 shares of the company’s stock valued at $740,000 after acquiring an additional 4,764 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Trip.com Group by 601.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 554 shares of the company’s stock worth $42,000 after acquiring an additional 475 shares during the period. Finally, United Capital Financial Advisors LLC bought a new stake in Trip.com Group in the third quarter valued at $205,000. 35.41% of the stock is owned by hedge funds and other institutional investors.

Trip.com Group Company Profile

Trip.com Group Limited, through its subsidiaries, operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours and in-destination, corporate travel management, and other travel-related services in China and internationally. The company acts as an agent for hotel-related transactions and selling air tickets, as well as provides train, long-distance bus, and ferry tickets; travel insurance products, such as flight delay, air accident, and baggage loss coverage; and air-ticket delivery, online check-in and seat selection, express security screening, real-time flight status tracker, and airport VIP lounge services.