Daiwa: Reiterates "Buy" rating on Trip.com Group-S (09961.HK), target price HK$508

Zhitong Finance APP has learned that Daiwa released a research report stating that Trip.com Group-S (09961.HK) announced its second-quarter results for this year, and the firm remains constructive on the company's long-term prospects, as international business is becoming a new growth engine, and it is encouraged by management's accelerated execution of buybacks; at 11.7 times 12-month forward price-to-earnings, about 40% below the three-year average of 19.8 times, it believes the risk-reward is attractive. It reiterates the "Buy" rating and a 12-month target price of HKD 508.