The analyst maintained an Outperform rating for TONGCHENGTRAVEL due to its potential synergies from the acquisition of DIDA INC, despite concerns over DIDA INC's declining revenue and profit. The broker adjusted profit forecasts downward for 2026 and 2027 but believes the company's business adjustments can help navigate macro volatility. However, the lowered target price reflects a weaker industry valuation and aggressive capital allocation.
