Jefferies Upgrades (NTES) to Buy on Favorable Risk/Reward

November 28, 2016 6:40 AM EST
Get Alerts NTES Hot Sheet
Price: $237.68 --0%

Rating Summary:
    19 Buy, 2 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Jefferies upgraded (NASDAQ: NTES) from Hold to Buy with a price target of $261.00 citing a more favorable risk/reward profile.

Analyst Karen Chan commented, "We see a more favourable risk/reward profile with the stock down 16% from recent peak (vs S&P +3%), trading at 14.4x FY17 P/E. We expect strong sequential recovery in 4Q16 mobile game, while Onmyoji’s overseas expansion and 2017 game pipeline announcement should be near-term catalysts. The defensive nature of game business, recently announced share repurchase and stable dividend payout should provide share price support. Upgrade to Buy; maintain PT USD261."

For an analyst ratings summary and ratings history on click here. For more ratings news on click here.

Shares of closed at $227.09 yesterday.

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