Deutsche Bank Upgrades Netease.com (NTES) to Buy
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Deutsche Bank upgrades Netease.com (Nasdaq: NTES) from Hold to Buy with a $35 price target, citing valuation.
The firm said, "We believe the current valuation offers an attractive risk/reward entry point to the China online games sector. Successful WoW transition should result in new drivers for revenue and profit given the immense popularity of the game. Despite near term concerns in the online ad business we remain positive in the long run."
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