Deutsche Bank Downgrades NetEase.com (NTES) to Hold; Valuation Call After Recent Run

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March 29, 2012 9:57 AM EDT
Get Alerts NTES Hot Sheet
Price: $125.12 +2.01%

Rating Summary:
    27 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Deutsche Bank downgraded NetEase.com (NASDAQ: NTES) from Buy to Hold, maintains price target of $62.00.

Deutsche analyst said, "NetEase has outperformed the Heng Sang Index by 23% YTD and 31% over the past six months. We attribute the recent stock rally to the World of Warcraft (WoW) contract renewal. We believe NetEase’s growth outlook remains intact in 2012, but we see limited scope for upside to our financial forecast. We believe the stock is fairly valued."

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 $59.39 yesterday.

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