[ET Net News Agency, 29 December 2020] Guotai Junan International lifted its target
price for NetEase Inc (09999) to HK$165 from HK$164.3 and maintained its "buy" rating.
The research house forecast MetEase's growth of online games services revenue from 2020
to 2022 to be 18.4%, 15.9%, and 13.6%, respectively, due to (1) expected steady cash flow
from main existing titles, (2) outstanding games operating capability of the company, and
(3) rich games pipeline.
Meanwhile, NetEase's new game Akasha Book achieved superb performance and ranked at No.7
on China's iOS top revenue grossing chart at its highest. Guotai Junan forecast NetEase's
non-GAAP EPS from 2020 to 2022 to be RMB5.13, RMB5.59, and RMB6.29, respectively. (KL)