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CLSA Raises NetEase (NTES.US) TP to USD150, Expects 9% Growth in 4Q25 Total Revenue
2026-02-04 10:26:17
CLSA published a research report on NTES-S (09999.HK). The broker projected a 9% growth in the company's total revenue for 4Q25, with adjusted EBIT hiking by 15%, which was driven by the continuous recovery of its gaming business.

The broker noted that NetEase's games revenue could rise 12% YoY, on the ride of further rebound in FWJ in China and growing momentum of Where Winds Meet globally.

Paired with upcoming new games Sea of Remnants and open-world ACG Ananta, NetEase could sustain 9% YoY games growth in 2026 with upside potential.

Consequently, the broker raised its forecast for the company's adjusted net profit for 2026 by 5%, and raised the target price for NetEase (NTES.US) shares from USD140 to USD150, maintaining an Outperform rating.
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