Jefferies analyst Thomas Chong lowered the firm’s price target on NetEase to $103 from $126 and keeps a Buy rating on the shares after the company reported Q2 results. The firm views share price volatility post result as due to softness in deferred revenue due to operational adjustments on the PC version of FWJ as well as Eggy Party and Justice Mobile experiencing seasonality after the holiday, says the analyst, who believes “core competence is intact with new games to be anticipated.”
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