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Fly News Breaks for February 6, 2018
NTES
Feb 6, 2018 | 08:34 EDT
Benchmark analyst Fawne Jiang raised her revenue estimates for NetEase ahead of the company's Q4 report to reflect better than expected ecommerce growth, but reduced her earnings estimates to factor in higher expenses owning to deep promotion associated with ecommerce and marketing expenses for new game launches. The analyst, who sees signs of new games showing early momentum in Q1 and is confident in the company's game pipelines, raised her price target on NetEase shares to $355 and keeps a Buy rating on the stock.
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