NetEase price target raised to $140 from $130 at Benchmark

Benchmark analyst Fawne Jiang raised the firm’s price target on NetEase to $140 from $130 and keeps a Buy rating on the shares following another “strong beat on earnings.” The firm highlights what it calls “two notable structural trends” taking shape with respect to NetEase’s games in recent quarters, namely their breakthrough into games with a large user base and high DAU and their success in developing and launching titles across games genres beyond their core MMOs.