Deutsche Bank analyst Han Joon Kim lowered his price target for NetEase to $301 but keeps a Buy rating on the name. Sequential recovery in mobile game momentum and sustained reduction in costs are bigger drivers to the share price than the Q1 earnings miss, Kim tells investors in a research note. He believes, however, that downward revisions to consensus estimates may prevent stock from "rallying hard."
NetEase (NTES) unveiled a new team-based shooter "Marvel Rivals," a multiplayer game based on Marvel Comics' (DIS) superhero characters. The game is being developed for PC, with an alpha test for the game set to launch in May 2024. Reference Link