Goldman Sachs Keeps Buy Rating on Tongcheng Travel with HK$24 Price Target

Goldman Sachs has maintained its Buy rating on Tongcheng Travel Holdings Limited (0780) in a recent report. The investment bank also set a price target of HK$24.00 for the stock. This decision comes after analyzing the company's latest earnings release, which reported a quarterly revenue of HK$4.96 billion and a net profit of HK$772.29 million as of March 31.

Compared to last year's quarter, Tongcheng Travel Holdings Limited saw an increase in revenue from HK$4.38 billion to HK$4.96 billion, with a corresponding rise in net profit from HK$668.92 million to HK$772.29 million.