U.S. stocks move differently – Ctrip rose more than 2.4% before the market opened, being listed as one of Goldman Sachs' top choices in China's leisure/tourism sector.
On September 19th, Ctrip (TCOM.US) rose 2.46% in pre-market trading, reaching $47.85. In terms of news, Goldman Sachs published a research report stating that due to the elasticity of tourism demand compared to broader domestic consumption, it maintains a forecast of a 16% compound annual growth rate for Ctrip Group from 2024 to 2027. At the same time, Goldman Sachs noted Ctrip's dominant position in China's outbound tourism and its expansion through its platform. Ctrip remains one of Goldman Sachs' top choices in the leisure/tourism sector in China, maintaining a target price of HKD 517 and a "buy" rating.
In the book 'Big Move', CICC: The recovery of per capita travel consumption in China during the Mid-Autumn Festival has reached a new high compared to 2019.
According to the report released by CICC, according to the datacenter of the Ministry of Culture and Tourism, the number of domestic trips in the country reached 107 million, an increase of 6.3% compared to the same period in 2019; the total amount spent by domestic tourists on their trips reached 51.047 billion yuan, an increase of 8% compared to the same period in 2019; per capita travel consumption has recovered to 101.6% of the same period in 2019, exceeding the recovery levels during this year's New Year's Day, Spring Festival, Tomb-Sweeping Day, Labor Day, and Dragon Boat Festival, reaching a new high in recovery levels. Despite the background of being affected by a strong typhoon in the eastern region during this year's Mid-Autumn Festival, domestic tourism still achieved good recovery in terms of number of trips and per capita consumption, indicating a high resilience in domestic tourism according to the bank.
Goldman Sachs: Ctrip is still one of the preferred choices in the leisure/tourism industry in China, maintaining a target price of HK$517.
On September 19th, Goldman Sachs published a research report stating that due to the more elastic demand for tourism compared to broader domestic consumption, it maintains a forecast of 16% compound annual growth rate for Ctrip Group from 2024 to 2027. At the same time, Goldman Sachs notes Ctrip Group's dominant position in outbound tourism in China and its expansion through its platform. Ctrip Group remains one of Goldman Sachs' top choices in the leisure/tourism sector in China, with a P/E ratio forecast of 13x and 11x for this year and next year, respectively, and a target price of HKD 517 and a "buy" rating. The report indicates that Ctrip Group's management has stated that it aims to become ...
Express News | Daiwa: Tencent and Ctrip are the preferred choices among mainland technology companies, with the target price of Meituan raised to HK$160.
Dahua Rating | Daiwa: Tencent and Ctrip are the first choice among mainland technology companies, and Meituan's target price has been raised to HK$160.
On September 19th, Ganglonghui released a research report stating that among mainland technology companies, Tencent and Ctrip are the preferred choices, followed by Meituan, PDD Holdings, and Alibaba. The target price for Meituan has been raised from HKD 145 to HKD 160. The firm has noticed the main positive factors of Meituan and Ctrip, and believes that Ctrip's hotel business is ready to further improve its market share in the next two years, with the main catalyst being the increase in revenue contribution from international tourism business; while Meituan's total transaction volume of in-store commodities recorded a year-on-year growth of over 40% in July and August, and its food delivery business has seen economical improvement due to lower delivery costs.
Goldman Sachs: Maintains a "buy" rating for Ctrip Group, with a target price of HKD 517.
Ctrip Group management expressed their expectation to become the leading online travel agency (OTA) in Asia within the next five years. They anticipate that the revenue from China and overseas will achieve a more balanced ratio of 50%/50%, instead of the current 65%/35%.
Daiwa raised the target price of Meituan (03690.HK) to 160 yuan, industry's top choice Tencent (00700.HK) and Ctrip (TCOM.US), etc.
According to a research report by Daiwa, among technology companies in mainland China, the top choices are Tencent (00700.HK) and Ctrip (TCOM.US) in a tie. They are followed by Meituan-Dianping (03690.HK), PDD Holdings (PDD.US), and Alibaba (BABA.US). The target price for Meituan has been raised from 145 yuan to 160 yuan. The report points out that the macro situation may continue to be a major disadvantage for mainland network technology stocks, citing negative impact on e-commerce this year due to a decline in the average order price and price competition. However, the report also highlights the main positive factors for Meituan and Ctrip, especially noting Ctrip's hotel business in the coming year.
Tourism Bureau: Will partner with travel platforms to distribute over 10 million yuan in 'Call Car' rewards.
Hong Kong Tourism Board announced that in preparation for the National Day golden week in October, it will enhance promotion in the mainland market, launching various activities and offers including drone performances, a special edition of 'A Symphony of Lights' for National Day, Temple Street Night Market discounts, and a Hong Kong-wide free tram day. The Tourism Board revealed that it will collaborate with the mainland travel guide platform 'Gaode Map' to introduce the 'National Day Hong Kong Travel Plan', distributing rewards totaling over 10 million Hong Kong dollars in 'call car' incentives to tourists. Additionally, the Tourism Board will also cooperate with Alibaba Group's travel platform 'Fliggy', major airlines, and others.
US stocks closed | S&P and Dow set new intraday highs, Chinese concept stocks performed well, li auto inc rose more than 12%.
In the late trading session, the US stock market saw a significant decline, but the S&P 500 index rose for the seventh consecutive day, and the Nasdaq and semiconductor index erased gains of more than 1%, with Intel rising 8% and closing up 2.7%, while Nvidia declined 1%. The Chinese concept index rose nearly 2%, and Li Auto Inc. rose more than 12%.
Top Cyclical Stocks for an Expected GDP Boost
China's Mid-Autumn Holiday Offers Weaker Prospects for Online Travel Companies, Jefferies Says
Ctrip (09961.HK): Museum ticket orders during the Mid-Autumn Festival are 15% higher than during the Dragon Boat Festival.
Ctrip (09961.HK) announced a summary of this year's Mid-Autumn Festival holiday travel, indicating that short-haul trips are the main focus of this year's Mid-Autumn Festival holiday. In terms of local travel, the ticket orders for museums in various places have increased by 15% compared to the Dragon Boat Festival holiday. At the same time, the last day of the Mid-Autumn Festival holiday coincides with the first day of the National Day holiday when train tickets go on sale. From the perspective of Ctrip's train ticket reservations, the high-speed rail tickets for many popular destinations were in high demand on that day. (vc/u)~
Express News | Ctrip: The museum ticket order volume during the Mid-Autumn Festival holiday increased by 15% compared to the Dragon Boat Festival holiday.
"Da Hang" Goldman Sachs: The impact of crackdown on money changers on Macau's gambling revenue is limited. The booking rate for silver entertainment and MGM National Day golden week is over 90%.
Goldman Sachs released research reports indicating that although all Macau gambling companies recognize the macro challenges brought by slowing consumer demand and its impact on the sales performance of their mall tenants. However, they also pointed out that the demand for gambling in all market segments remains resilient, the scale of bets remains stable, and the number of gamblers continues to grow, although some high-stakes gamblers have become more cautious about spending. Although the management of Ctrip-S (09961.HK), a mainland travel booking website, previously stated that the popularity of Hong Kong and Macau among mainland tourists has declined. However, Galaxy Entertainment (00027.HK) and MGM China (02282.HK) have revealed that hotel room bookings were strong during the National Day Golden Week.
Guosen Securities: The overall operation of the travel chain is flat, embracing a high-quality leader with outstanding member traffic.
The overall performance of the travel chain company in the first half of the year was relatively flat, but the leading operation with the advantage of online platform traffic still clearly leads the large cap in the industry index, while also having the advantage of brand and membership traffic. Quality leading companies with efficient operation, mainly through franchise expansion, continue to show good alpha growth.
Is Trip.com Group Limited's (NASDAQ:TCOM) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
U.S. stocks closed | S&P 500 and Nasdaq both rose for the fifth consecutive week, with nvidia up nearly 16% for the week and broadcom up 22% for the week.
The rebound in US consumer confidence, the near four-year low in one-year inflation expectations, the support of the former "Fed's three hands" for a 50 basis point rate cut, and the significant increase in betting on substantial rate cuts by the "Fed's communication agency" and others, have returned to the "fifty-fifty" level. Small cap stocks rose by more than 2% on Friday, chip index rose by 10% over the week, NVIDIA rose by nearly 16% over the week, and Broadcom rose by 22% over the week. The two-year US Treasury yield returned to a two-year low, the yen rose above 141, the highest in nearly nine months, offshore renminbi rose above 7.10 yuan, and bitcoin rose to $0.06 million. Oil prices stopped the multi-week decline, and gold rose by over 3% for the best month in a month.
It is expected that the total number of domestic passenger flights during the National Day holiday will reach 0.115 million, an increase of 6.2% compared to the previous year.
According to data from third-party platforms cited by domestic media, the total number of domestic passenger transport during this year's National Day holiday is expected to reach 0.115 million flights, with a daily average annual growth rate of 6.2% and an 11.2% increase compared to 2019. The data also indicates that the average one-way airfare (including tax) within China during the Mid-Autumn Festival holiday this year is about 770 yuan, a price drop of about 25% compared to the three days before the Mid-Autumn Festival and National Day holidays last year. (js / w) ~
Hong Kong stock concept tracking | Mid-Autumn Festival holiday is approaching, the tourism market is again experiencing a small peak (with concept stocks)
The National Immigration Administration predicts that the average daily number of inbound and outbound tourists during the Mid-Autumn Festival holiday will increase by 21.9% compared to the same period last year.
US stocks closing | NASDAQ, S&P joined hands for four consecutive positives, US stocks' seven giants all rose, with Meta up nearly 3% and Nvidia up nearly 2%.
In August, the PPI in the United States showed a cooling down of inflation, and the market slightly raised its bets on the Fed's aggressive interest rate cuts. US stocks rose together, with Nvidia up nearly 2%, while NIO Inc and XPeng fell more than 5%. The European Central Bank cut interest rates for the second time this year, but maintained a restrictive policy. European bonds fell, and the euro rebounded from its four-week low. Commodities rose across the board, with US oil briefly rising by 3.7%, gold reaching a new high with a nearly 2% increase, palladium rising by over 4%, and copper experiencing its largest two-month increase.