NetEase price target raised to $144 from $140 at Benchmark

Benchmark raised the firm’s price target on NetEase to $144 from $140 and keeps a Buy rating on the shares. NetEase reported below-expectation Q4 results driven by stronger than expected seasonality on gaming in a seasonally low quarter on top of a shortfall on some of its non-core segments, but the firm anticipates that Q1 will mark the beginning of a high game-launching cycle, the analyst tells investors in a post-earnings note.