The analyst rating from UBS is influenced by the ongoing antitrust investigation into TRIP.COM-S, which has caused the company's share price to decline. Despite this, UBS believes the market has largely absorbed the news. The primary concern for investors is the potential for future penalties that could impact TRIP.COM-S' business model, fee structure, or market share. UBS finds it challenging to predict the financial implications of the investigation beyond potential fines, leading them to expect the stock to remain range-bound in the short term. Nevertheless, UBS maintains a positive outlook with a target price of USD90 for Trip.com and HKD700 for its H-shares, both rated as Buy.
