Nomura Securities Upgrades NetEase.com (NTES) to Neutral, WoW EP to Mitigate Q4 Downturn

Nomura Securities upgraded NetEase.com (NASDAQ: NTES) from Reduce to Neutral with a price target of $48.00 (from $45.00) after the company announced that it will launch the new expansion pack (EP) of World of Warcraft (WoW), Mists of Pandaria on 2 October, one week after the global launch.

"We believe that the timely launch of the new EP is likely to mitigate the downturn of WoW into 4Q12F and onward," analyst Jin Yoon said. "We remain cautiously optimistic on NetEase’s long-term growth prospects before turning more positive, as we believe that an EP’s effect is short-lived and the likelihood of its pipeline games becoming major hit titles is minimal."

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 $50.21 yesterday.

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