Oppenheimer Lowers Estimates on NetEase.com (NTES) As Deals Heat Up in China; But Take Advantage of Any Major Pullback
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Price: $62.43 +0.56%
Rating Summary:
11 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
11 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade NTES Now!
Oppenheimer maintains an 'Outperform' on NetEase.com (NASDAQ: NTES) price target of $72.00.
Analyst, Andy Yeung, said, "Despite Tencent’s recent licensing deal with Activision Blizzard (Nasdaq: ATVI) to operate Call of Duty (CoD) in China, NTES remains well positioned to clinch a deal with ATVI on Diablo III. Meanwhile, our research suggests that NTES will likely see weak revenue growth in 2Q12 given softness in online advertising and the lack of new major game releases. We’re lowering our revenue estimates on slower growth assumptions while keeping our earnings estimates on cost controls."
Yeung lowers Q2 revenues from $330.1M to $326.2M and FY13 from $1.371B to $1.360B.
For an analyst ratings summary and ratings history on NetEase.com click here. For more ratings news on NetEase.com click here.
Shares of NetEase.com closed at $58.67 yesterday, with a 52 week range of $35.74-$65.54.
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Analyst, Andy Yeung, said, "Despite Tencent’s recent licensing deal with Activision Blizzard (Nasdaq: ATVI) to operate Call of Duty (CoD) in China, NTES remains well positioned to clinch a deal with ATVI on Diablo III. Meanwhile, our research suggests that NTES will likely see weak revenue growth in 2Q12 given softness in online advertising and the lack of new major game releases. We’re lowering our revenue estimates on slower growth assumptions while keeping our earnings estimates on cost controls."
Yeung lowers Q2 revenues from $330.1M to $326.2M and FY13 from $1.371B to $1.360B.
For an analyst ratings summary and ratings history on NetEase.com click here. For more ratings news on NetEase.com click here.
Shares of NetEase.com closed at $58.67 yesterday, with a 52 week range of $35.74-$65.54.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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