Glonghui, April 16 | Morgan Stanley issued a report removing NetEase from the preferred stocks because compared with its peers Ctrip and Tencent Music, NetEase's growth this year and next two years is weak. This is due to the risk of traditional games and expectations for new games. NetEase's target price was lowered to $120, maintaining an “overholding” rating. It is still optimistic that NetEase's performance in the second half of the year will be better than in the first half of the year. According to Damo, “The Sixteen Voices of Yan Yun” will be released on July 26, but it is limited to the PC platform, and the currency monetization plan is uncertain. The bank lowered NetEase's mobile game revenue growth forecast for this year from 13% to 11%, and raised the PC game revenue decline forecast from 13% to 10%. Once NetEase's mobile game launch and monetization plans become more clear, the view is likely to be more positive.
大行评级|大摩:下调网易目标价至120美元 从首选股中剔除
Big Bank Ratings | Damo: Lowering NetEase's Target Price to $120 and Removing It from Preferred Stocks
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