The Zhitong Finance App learned that Macquarie released a research report stating that it gave Tongcheng Travel (00780) a “outperforming the market” rating, and that the profit forecast for the 2024 and 2025 fiscal year was raised by 6% and 8%, respectively, to reflect the increase in profits brought about by the acquisition. The target price was raised from HK$20.5 to HK$21.7. According to Macquarie, the continuing tourism boom may support Tongcheng's optimistic outlook this year. Total revenue is expected to increase 51% year over year, and adjusted net profit will reach 2.7 billion yuan.
麦格理：予同程旅行(00780)“跑赢大市”评级 目标价上调至21.7港元
Macquarie: The target price for Tongcheng Travel (00780) “Outperform the Market” rating was raised to HK$21.7
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