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<Research>CCBI Adds NTES-S TP to HKD226.2; Momentum Back on Track
NTES-S (09999.HK) delivered a solid, better-than-expected performance in 1Q25, CCBI wrote in its research report.Looking ahead, CCBI expected the momentum in NTES-S' gaming bus...
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<Research>CCBI Adds NTES-S TP to HKD226.2; Momentum Back on Track
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NTES-S (09999.HK)  -2.300 (-1.207%)    Short selling $173.39M; Ratio 16.218%   delivered a solid, better-than-expected performance in 1Q25, CCBI wrote in its research report.

Looking ahead, CCBI expected the momentum in NTES-S' gaming business to persist after considering a lower base for its mobile games starting from 2Q25, the ongoing strong performance of its recent titles such as "Marvel Rivals", "Where Winds Meet", and "Once Human", and greater resilience demonstrated by its long-lasting games.

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The broker also anticipated NTES-S to maintain healthy profit margins given its prudent marketing strategy and focused efforts in scaling back unprofitable non-gaming businesses.

CCBI raised its target price for NTES-S from HKD184.6 to HKD226.2. For its US stocks, the broker also lifted its target price from USD118.3 to USD145. Both were given an unchanged Outperform rating.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-21 16:25.)

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