Glonghui, March 4 | Citibank released the latest report saying that maintaining NetEase's “buy” rating, the target price is 7 US dollars, and it is expected that NetEase Youdao's losses will narrow significantly in 2024. Citi pointed out in the report that NetEase Youdao's online marketing business achieved an astonishing 97% year-on-year growth rate in the Q4 quarter. This high growth trend is expected to continue into the Q1 quarter of this year, and since NetEase Youdao developed many channels including overseas advertising platforms in the Q4 quarter, and with the continuous application of AI technology, it is expected that the business will continue to maintain a good level during the year. The Citigroup report placed special emphasis on NetEase's leading high school learning business. Under the catalyst of the “Regulations on the Administration of Out-of-School Training (Draft for Comments)” on February 8, industry boundaries are becoming more and more clear. NetEase Youdao will focus on high school courses, which is expected to bring rapid growth of 25% year-on-year to the Q1 quarter of 2024. At the same time, Citi expects Youdao's growth in the learning service business in the Q1 quarter to match the 13% growth rate for the whole year.
大行评级|花旗:维持网易有道“买入”评级 目标价7美元
Big Bank Rating | Citibank: Maintaining NetEase's “Buy” Rating Target Price of $7
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