Wall Street Sustains Bullish Stance on Trip.com Amid Strong Recovery Signals

Analyst sentiment remains favorable toward Trip.com (TCOM) as the travel tech giant shows signs of rebounding performance, driven by robust international travel demand and improved profitability metrics. The stock has attracted renewed institutional interest ahead of key earnings.

Wall Street continues to express confidence in Trip.com (TCOM), with multiple brokerages upgrading the stock to 'buy' or 'outperform' in recent weeks. This positive outlook is anchored in Q3 2025 results that exceeded expectations, with revenue rising 26% year-over-year to $1.07 billion, driven by a 41% increase in international bookings. The company reported adjusted EBITDA of $314 million, a 39% improvement from the same period the prior year. The momentum reflects a broader recovery in China’s outbound travel sector, which has seen a 62% year-on-year surge in bookings to Asia-Pacific and European destinations since Q2 2025. Trip.com’s strategic investments in AI-powered user experience enhancements and expanded partnerships with global airlines and hotels have contributed to a 22% increase in average revenue per user (ARPU) in the quarter. Market analysts note that Trip.com’s valuation remains relatively low compared to peers in the online travel space, with a forward P/E of 18.3x, well below the sector median of 24.7x. This valuation gap, coupled with a 5.8% dividend yield and a share buyback program totaling $280 million since January 2025, supports the bullish view. Investors across the U.S. and Hong Kong have responded, with TCOM shares up 11% in the past 30 days. The positive sentiment is particularly notable among funds focused on China’s digital economy and international travel recovery, with institutional ownership rising to 64% in Q3 2025.