NetEase price target raised to $104 from $82 at Barclays

Barclays raised the firm’s price target on NetEase (NTES) to $104 from $82 and keeps an Equal Weight rating on the shares. The company reported strong Q4 results, driven by over 50% year-over-year growth in PC games while mobile games continued to struggle, the analyst tells investors in a research note. The firm says its estimates remain largely unchanged.