freespinandcoinforcoinmaster| UBS: Raise same-trip travel target price to HK$25 to maintain positive view on long-term potential

UBS issued a report sayingfreespinandcoinforcoinmaster, the first-quarter performance of Tongcheng Travel was in line with expectations, domestic tourismfreespinandcoinforcoinmasterSteady growth. The bank maintains a positive view of the company's long-term potential and should benefit from increased online penetration in low-tier cities, increasing international business, and rising long-term profit margins, as well as liquidity potential from profit growth in international and hotel management.

The bank pointed out that although the company continues to invest in outbound travel, including improving user recognition and strengthening supply chain strength, based on operating leverage, the bank expects the profit margin of the company's core online travel platform to remain relatively stable at 18 per cent this yearfreespinandcoinforcoinmaster. 3% level, compared with last year's 18.0% levelfreespinandcoinforcoinmaster.5%。The bank also expects the situation to gradually improve in the next few years, supported by improved operating efficiency and the expansion of its high-profit outbound travel business.

The bank raised its earnings per share forecast for Tongcheng Tourism this year and next by 1.8% and 1.6%, and raised its target price from HK$24 to HK$25, maintaining its "Buy" rating.