Morgan Stanley has lowered its price target for Trip.com Group Limited (NASDAQ: TCOM) to $70 from $75, while keeping an Overweight rating. This reduction is attributed to slower expected growth in the hotel segment, leading to a 0.6% to 1.7% decrease in revenue forecasts for 2026 to 2028. The firm has also revised its adjusted earnings per share projections down by 1.3% for 2026, 2.5% for 2027, and 3.7% for 2028. Despite these changes, Trip.com shares are seen as potentially undervalued, trading at $50.91, with analysts noting a low P/E ratio of 7.51. In its recent Q4 2025 earnings report, Trip.com surpassed expectations with an EPS of $4.97, exceeding the forecast of $4.77, and reported revenues of $15.4 billion, above the expected $14.86 billion. Other analysts have also adjusted their price targets, with Barclays lowering its target to $75 due to an antitrust probe, while Benchmark reduced its target to $72 citing margin concerns. Jefferies maintained a Buy rating with a target of $88, emphasizing future growth areas such as inbound travel and AI.