NetEase price target raised to $115 from $108 at Citi

Citi raised the firm’s price target on NetEase (NTES) to $115 from $108 and keeps a Buy rating on the shares. While the Q3 print missed consensus estimates on top and bottom line, NetEase continues to demonstrate its strength in developing and publishing high-quality titles, the analyst tells investors in a research note. The firms sees an attractive valuation, strong cash flow generation and consistent shareholder return for the company.