Trip.com Group Limited (NASDAQ:TCOM) is one of the most undervalued travel stocks to buy according to hedge funds. CGS International reaffirmed a Buy rating on Trip.com Group Limited (NASDAQ:TCOM) on January 22 and set a price target of HK$551.00.
In a separate development, Trip.com Group Limited (NASDAQ:TCOM) reported on January 14 that it received a notice of investigation from the State Administration for Market Regulations of the People’s Republic of China (SAMR), stating the commencement of an investigation by the SAMR involving the company pursuant to the Anti-Monopoly Law of the People’s Republic of China. Trip.com Group Limited (NASDAQ:TCOM) stated that its business operations remain normal and that it would actively cooperate with the investigation.
The same day, JPMorgan stated that China’s State Administration for Market Regulation opened a formal Anti-Monopoly Law case into Trip.com Group Limited (NASDAQ:TCOM) for suspected abuse of a dominant market position, and cited “prior verification” as the basis for filing the case. The firm stated that it expects the stock’s share price to be negatively affected by the news in the following few trading sessions, and that it is likely to enter into a 4-6-month range-bound phase after the initial drawdown. JPMorgan added that incremental information tends to come slowly until a penalty decision is published by the regulator.
Trip.com Group Limited (NASDAQ:TCOM) is a global one-stop travel platform that offers packaged tours, airline tickets, accommodations, corporate travel management, property management systems, advertising services, and more. The company operates under a range of brands, including Ctrip, Qunar, Trip.com, and Skyscanner.
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Disclosure: None. This article is originally published at Insider Monkey.
