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<Research>CLSA Elevates NETEASE MUSIC (09899.HK) TP to $250, Raises Paid User Forecast
NETEASE MUSIC (09899.HK) has been executing its scale-first strategy in recent quarters, solidifying its leading position among young cohort in higher-tier cities, according to CLS...
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<Research>CLSA Elevates NETEASE MUSIC (09899.HK) TP to $250, Raises Paid User Forecast
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STOCK INFO

NETEASE MUSIC (09899.HK)  -7.200 (-3.186%)    Short selling $32.98M; Ratio 16.375%   has been executing its scale-first strategy in recent quarters, solidifying its leading position among young cohort in higher-tier cities, according to CLSA's research report.

The broker raised its long-term paid user forecast, and expected the growth trend in market share to continue, along with long-term potential for expansion in ARPPU and profit margin.

CLSA advanced its valuation benchmark to June 2026, and elevated its target price from $200 to $250, with rating reiterated at High Conviction Outperform.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-06 16:25.)

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