HSBC: Upgrade Ctrip Travel (00780.HK) target price to 28 Hong Kong dollars, rated "buy"

According to the Zhixun Financial APP, Morgan Stanley released a research report stating that after taking into account the latest forex forecasts, the target price of Tongcheng Travel (00780.HK) has been raised by 8% from HK$26 to HK$28. Profit forecasts and other important forecasts remain unchanged, with a "buy" rating maintained. Morgan Stanley predicts that this year China's travel demand will remain strong, with consumption shifting from shopping to travel or experiences. With the drive of expansion in lower-tier cities, cross-selling, new business, and international expansion, Tongcheng will continue to increase market share.