Goldman Sachs: NTES-S (09999) rated as "Buy", target price of 179 Hong Kong dollars.
The company will also proactively accelerate repurchases, and expects stable returns for shareholders with potential for upward movement.
Goldman Sachs released a research report stating that NTES-S (09999) has a "buy" rating with a target price of 179 Hong Kong dollars. NetEase management pointed out that the performance of "Fantasy Westward Journey" on PC continues to stabilize, the user engagement of "Endless Abyss" meets expectations, and "Once Human" and the return of Blizzard to the mainland will contribute to profits in the third quarter.
The firm also mentioned that "Yan Yun Sixteen Sounds" will be launched by the end of this year as scheduled, and "Marvel Duel" has received global praise and will be released on December 6. In addition, overseas expansion is a long-term strategy with three main directions, including using its own R&D capabilities on existing overseas IPs, promoting self-developed games overseas, and developing new patents through smaller overseas studios. The company will also actively accelerate share buybacks, and it is expected that overall shareholder returns will remain stable with potential for growth.
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