Citi analyst Alicia Yap raised the firm’s price target on NetEase to $134 from $118 and keeps a Buy rating on the shares ahead of the Q2 report on August 24. The analyst expects relatively in-line results with solid gaming revenue despite softer seasonality partially weighed by softer Cloud Music and Youdao. The firm expects Justice to drive upside to consensus Q3 games revenue estimates and cites a higher gaming multiple for the target raise.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on NTES:
- Chinese Tech Stocks Stumble Following Proposed Reforms
- TTWO, NTES, ISRG: 3 Must-Know Tech Stocks Loved by Analysts
- NetEase price target raised to $128 from $127 at BofA
- NetEase price target raised to $117 from $112 at Jefferies
- Warner Bros. Games and NetEase announce launch of ‘Harry Potter: Magic Awakened’