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Macquarie boosts NetEase to Outperform, sees 33% upside

Jan. 04, 2019 4:19 PM ETNetEase, Inc. (NTES) StockNTESBy: Jason Aycock, SA News Editor1 Comment
  • Macquarie has raised its rating on NetEase ADRs (NASDAQ:NTES) to Outperform from a previous Neutral, joining a mostly bullish chorus on the videogame maker.
  • The ADRs have slipped 36.6% in price over the past year amid 2018 challenges from a freeze in Chinese game approvals. They're down 9.3% this week amid a tech downdraft.
  • Macquarie's Wendy Huang has raised her price target to $305 from $236, implying 33% upside.
  • ADRs are up 0.4% in early aftermarket trading.

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