Benchmark analyst Fawne Jiang said she was encouraged that NetEase maintained healthy growth in its online gaming business in Q3, but she lowered her price target on the shares to $295 from $320 after "fine-tuning" her estimates to factor in more conservative exchange rate assumptions. Jiang, who thinks NetEase's margin outlook remains largely stable, given a healthy game recovery and its disciplined cost approach, keeps a Buy rating on the stock.
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