US Stock Market Move | Citigroup raises Netease Inc Sponsored ADR target price to $115. Netease Inc Sponsored ADR (NTES.US) rose over 3%.
On Monday, NetEase (NTES.US) rose 3.15%, closing at $88.18.
On Monday, NetEase Inc Sponsored ADR (NTES.US) rose by 3.15% to $88.18. Citigroup released a report indicating that NetEase Inc Sponsored ADR's third-quarter revenue and net profit were below expectations, but it continues to demonstrate its ability to develop and launch high-quality games. Based on attractive valuation, strong cash flow, and continued shareholder returns, the bank raised its target price for NetEase Inc Sponsored ADR ADR from $108 to $115, maintaining a "buy" rating.
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