Bank of America Securities Sticks to Its Buy Rating for Netease Inc (9999)
In a report released on November 24, from Bank of America Securities maintained a Buy rating on Netease Inc, with a price target of HK$259.00. The company’s shares closed yesterday at HK$216.60.
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Currently, the analyst consensus on Netease Inc is a Strong Buy with an average price target of HK$256.10, a 18.24% upside from current levels. In a report released on November 21, Bernstein also maintained a Buy rating on the stock with a HK$240.00 price target.
Based on Netease Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of HK$27.89 billion and a net profit of HK$8.6 billion. In comparison, last year the company earned a revenue of HK$25.49 billion and had a net profit of HK$6.76 billion
Read More on HK:9999:
Disclaimer & DisclosureReport an Issue
- Promising Growth and Strategic Investments Bolster NetEase’s Financial Outlook
- NetEase price target raised to $158 from $145 at Benchmark
- NetEase price target lowered to $155 from $160 at Bernstein
- NetEase price target raised to $135 from $120 at Barclays
- NetEase’s Strong Gaming Growth and Future Potential Justify Buy Rating
