Tongcheng Travel faces headwinds from rising oil prices, which have dragged domestic travel demand more than expected, Citi analyst Brian Gong says in a note. While short-haul travel remains relatively resilient, higher airline ticket prices could weigh on long-haul demand, the analyst says. Citi lowers its 2026 revenue estimate for Tongcheng Travel by 3.3% and cuts its target price on the stock to 25 Hong Kong dollars from HK$28. The bank keeps its buy call on the stock, citing undemanding valuations. Shares are down 5.2% at HK$14.87. (venkat.pr@wsj.com)
Tongcheng Travel Outlook Weighed by Oil-Price Surge — Market Talk
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