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NTES-S Gains ~4% w/ Compiled Brokers' Latest Ratings, TPs and Views
Recommend 6 Positive 7 Negative 4 |
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NTES-S (09999.HK) opened 2.59% higher today and peaked at HKD190.6, testing resistance at the 100MA. It was last at HKD188.5, up 3.86%, with turnover of 6.0949 million shares, involving HKD1.142 billion. AASTOCKS Financial News compiled the latest consolidated investment ratings, TPs and views from 10 brokers on NTES-S (09999.HK)(NTES.US) as follows: Brokers| Ratings | TPs | Key Views JP Morgan | Overweight |HKD280/ USD180 1Q26 results significantly beat expectations, with operating profit growth accelerating to 21%. The outperformance was driven by optimized channel costs and expansion in game gross margin. The broker expects earnings forecasts to be revised up and recommends investors buy on dips. UBS | Buy | HKD265.2 -> 274.6 / USD170 -> 176 1Q26 results beat expectations. Continued gross margin expansion was the key surprise. Earnings resilience remained strong amid a lighter product cycle. The launch of "Sea of Remnants" in 3Q26 is expected to be a re-rating catalyst. Citi | Buy | USD165 -> 174 1Q26 results exceeded expectations. The global success of "Where Winds Meet" and revival of classic IPs such as "FWJ" juiced growth. New title "Sea of Remnants" will launch in 3Q26, while multiple upcoming games including "ANANTA" will enrich the product pipeline. BofA Securities | Buy | HKD259 -> 268 / USD166 -> 172 1Q26 earnings likely bottomed out. Results beat expectations on strong game gross margins and improved marketing efficiency. New game launches in 2H26 are expected to re-accelerate revenue and earnings growth. Daiwa | Buy | HKD257 1Q26 results beat expectations, driven by gaming. Structural improvement in game and overall gross margins reached 75% and 69%, respectively. The broker raised its 2026-2028 earnings forecasts by 10-13%. Goldman Sachs | Buy | HKD250 -> 260 / USD160 ->166 Solid 1Q26 results with record-high gross margin. Structural benefits from payment channel shifts and AI integration enhanced efficiency. The recent share price pullback is seen as overdone; Buy reiterated. Macquarie | Outperform | HKD264 -> 241 / USD168 -> 153 Strong performance of existing games in 1Q26, with adjusted net profit 11% above market expectations. The broker lowered the valuation multiple for core games to align with Tencent, cutting TP by 9%, but remains optimistic on future growth. CMS | Overweight | HKD234 / USD150 1Q26 results beat expectations. Gross margin expansion trend remains solid, with anticipation for new summer game launches. Nomura | Buy | USD155 Solid 1Q26 results above expectations, supported by resilience in PC games and gross margin expansion. Game gross margin hit a record 74.8%. The launch of "Sea of Remnants" in 3Q26 will be a key growth catalyst for 2H26. Morgan Stanley | Overweight | USD154 Gross margin and G&A expenses are expected to normalize over the next few quarters. "Sea of Remnants" is scheduled for domestic launch in 3Q26, representing the next key catalyst to watch. 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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