thewitcher3crash| JPMorgan Chase: Raises Huazhu Group's target price to HK$37 and reiterates its "Buy" rating

JPMorgan Chase released a research report sayingthewitcher3crashHuazhu Group's first quarter performance and second quarter revenue growth guidance were solid, coupled with the support of the latest industry data, further enhanced the bank's confidence. It is expected that the Group will continue its strong trend in the first quarter in the second quarter and the rest of this year. Outperform peers.

Motong expects that despite the high base, the group's revenue will still record a year-on-year growth rate of approximately 10% from the second quarter to the fourth quarter of this year, and adjusted net profit is expected to increase by more than 10% year-on-year. It will continue to outperform the industry's operating performance expectations. In the next few years, it will reiterate its "buy" rating and increase its target price from HK$35 to HK$37, corresponding to a 25 times the 2024 forecast P/E ratio or 20 times the 2025 forecast P/E ratio.