NetEase's New Game Releases Seen Positive for Revenue Outlook -- Market Talk

Dow Jones

2024-11-15

0330 GMT - NetEase's new game releases by the year-end bode well for revenue prospects going into 2025, Citi Research analysts write in a note. The resilient performance of existing titles and the upcoming release of new games in December will serve as near-term positive catalysts, Citi says. This, combined with the successful relaunch of Blizzard titles, help support "steady earnings visibility" going into 2025, Citi adds. The bank maintains its buy rating, lifting its target price for NetEase's ADRs to US$115 from US$108, citing its attractive valuation, strong cash flow generation and shareholder returns. ADRs closed at US$84.22. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

November 14, 2024 22:31 ET (03:31 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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