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Latest Broker Ratings, TPs, Views on NTES-S (09999.HK) (NTES.US)
Recommend 5 Positive 7 Negative 3 |
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AASTOCKS Financial News compiled the latest investment ratings, target prices and views from eight brokers on NTES-S (09999.HK) (NTES.US) as follows: Brokers | Ratings | TPs | Key Views JP Morgan | Overweight | HKD280/USD180 1Q results largely beat, with operating profit growth accelerating to 21%, driven by optimized channel costs and expansion in game gross margin. The broker expected the market to raise earnings forecasts and recommended investors buy on dips. UBS | Buy | HKD265.2 -> 274.6/ USD170 -> 176 1Q delivered high-quality earnings beat, with continued gross margin expansion as the key surprise. Earnings showed strong resilience under a light product cycle. The anticipated release of "Sea of Remnants" in 3Q26 was expected to be a catalyst for a re-rating. Citi | Buy | USD165 -> 174 1Q results beat. The global success of "Where Winds Meet" and the revival of classic IPs such as "FWJ" supported growth. New game "Sea of Remnants" to be launched in 3Q26 will serve as a catalyst. BofA Securities | Buy | HKD259 -> 268/ USD166 -> 172 1Q earnings bottomed out and beat, supported by strong game gross margins and marketing efficiency. New game launches in 2H26 are expected to re-accelerate revenue and earnings growth. Goldman Sachs | Buy | HKD250 -> 260/ USD160 -> 166 1Q results were solid, with gross margin reaching a record high. Structural benefits from payment channel shifts and AI integration improved efficiency. The recent share price pullback is seen as excessive. The broker reiterated Buy rating. Macquarie | Outperform | HKD264 -> 241/ USD168 -> 153 | Strong performance from existing games in 1Q26, with adjusted net profit 11% above market expectations. However, the valuation multiple for core games was lowered to align with Tencent, leading to a 9% TP cut, while the broker remained optimistic on future growth. Nomura | Buy | USD155 1Q results were solid and beat on resilience in PC games and gross margin expansion. Game gross margin reached a record 74.8%. The launch of "Sea of Remnants" in 3Q26 will be a growth catalyst in 2H26. Morgan Stanley | Overweight | USD154 1Q results beat. Online game revenue grew 7%, ahead of forecasts, while gross margin expanded by 5.3 ppts to 69.4%. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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