智通财经APP获悉，野村发布研报称，重申网易-S(09999)“买入”评级，目标价由159港元上调至194港元，将2025及2026财年的每股盈利预测分别上调6%。
野村指，网易去年第四季度营较该行预测高1%;非通用会计准则每股盈利同比升33%，较市场及该行预测分别高20%及13%。细分业务方面，电脑游戏营收同比增57%，该行预期同比增25%。该行预计递延游戏收入将在今年第一季度恢复正增长。
该行表示，网易线上游戏收入可能会在今年复苏，同时预料该板块收入将在2025财年增长11%，高于上一财年6%的增幅。随着营业费用的优化，网易营业利润率可望进一步提升1.3个百分点。因此，该行预计网易2025财年非通用会计准则营业利润将增长12%，而上一财年的成长率为8%。
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