NetEase Inc (NTES) Gets a Buy Rating from Nomura

Nomura analyst Jialong Shi maintained a Buy rating on NetEase Inc (NTESResearch Report) yesterday and set a price target of $288. The company’s shares closed last Monday at $260.85.

According to TipRanks.com, Shi is a 4-star analyst with an average return of 12.7% and a 58.7% success rate. Shi covers the Technology sector, focusing on stocks such as Baidu Inc, Momo Inc, and YY Inc.

Currently, the analyst consensus on NetEase Inc is a Strong Buy with an average price target of $299.92, a 27.3% upside from current levels. In a report issued on August 5, Jefferies also initiated coverage with a Buy rating on the stock with a $274.60 price target.

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Based on NetEase Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $450 million. In comparison, last year the company had a net profit of $330 million.

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NetEase, Inc. engages in the provision of online internet technology services. It operates through the following business segments: Online Games, E-commerce, Advertisign Services, and E-Mail and Others. The Online Games segment offers multi-player online role-playing games and mobile games.