BofA raised the firm’s price target on NetEase to $135 from $128 and keeps a Buy rating on the shares. NetEase reported a “mixed” Q2, but the firm sees the revenue miss as mainly due to lower-than-expected PC game revenue because of the Blizzard termination and believes the revenue miss “should not change the solid mobile game growth outlook and the improving margin trend,” the analyst tells investors in a post-earnings note.
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