[ET Net News Agency, 14 January 2021] Nomura raised its target price for NetEase
(09999) to HK$216 from HK$173 and maintained its "buy" rating.
The research house expects NetEase to post 26% growth in its revenue to CNY19.8bn for 4Q
2020. It also expects NetEase to report GAAP operating profit growth of 12% YoY/16% QoQ to
CNY3.3bn.
NetEase has a majority of its US$12bn of cash balance denominated in USD. Nomura
estimated the continued depreciation of USD versus CNY through 4Q likely resulted in
CNY1.6bn of unrealized foreign exchange loss in 4Q. Separately, the drop in Alibaba's
(09988) share prices through 4Q 2020 likely led to CNY850mn in investment loss for
NetEase's stake in Alibaba.
Therefore, Nomura expects NetEase to report non-GAAP EPS of CNY2.58 in 4Q. (KL)
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09999 NTES-S
Nominal 
142.800 -0.100 (-0.070%) Others
14/01/2021 16:42
{I-bank focus}Nomura raises NetEase (09999) to HK$216
| Remark: | Real time quote last updated: 19/04/2024 14:47 |
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