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Jim Sun of Evolution Securities China released a note to clients earlier today on NetEase (ticker: NTES). Key extracts:

  • Rating and valuation. We maintain our BUY recommendation, and raise our target price from US$82 to US$88. This represents 15.1x our adjusted FY07 EBITDA/share estimate, 16.4x our adjusted FY07 ex
    Source: Analyst: New Games Will Drive NetEase 2H06 Growth (NTES)