Citi Maintained a Buy Rating on Trip.com (TCOM), Kept the PT Unchanged

Trip.com Group Limited (NASDAQ:TCOM) is one of the Best Extremely Profitable Stocks to Buy Right Now. On June 17, Citi analyst Brian Gong maintained a Buy rating on Trip.com Group Limited (NASDAQ:TCOM) with a price target of $78.

The analyst noted the company’s deal with MakeMyTrip as one of the key factors behind his bullish sentiment. As a result of this deal, the company will sell part of its stake in MakeMyTrip. This will allow the company to get a one-time gain from the sale, while keeping the largest minority shareholding in MakeMyTrip. Gong noted that this deal comes at a good time as the current value of MakeMyTrip is seen as favourable. Moreover, after the sale, Trip.com Group Limited (NASDAQ:TCOM) will have more offshore cash, which could lead to higher returns for shareholders.

Trip.com Group Limited (NASDAQ:TCOM) is a leading Chinese company that offers a one-stop online travel platform. It provides a range of travel products, services, and travel content for both leisure and business travelers.

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Disclosure: None. This article is originally published at Insider Monkey.