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M Stanley Reiterates NetEase, Inc. (NTES.US) Overweight; Dual Primary Listing Earlier Than Expected
2026-06-29 12:20:18
NTES-S (09999.HK) will become a dual primary listed company tomorrow (30th), considerably earlier than Morgan Stanley's projection. The broker anticipated that NetEase H shares may be included in the Southbound Stock Connect within one to two months, which was expected to trigger a valuation re-rating.

Together with the PC version of "Sea of Remnants" roll-out in mainland China on July 9, followed closely by the mobile version also debuting in July, the company is set to capture most of the summer holiday peak season. Coupled with "Justice Online: New World" going live on June 26, its sales ranking climbed to between fifth and tenth over the weekend, with player numbers reaching a two-year high.

Morgan Stanley spotted three major positive catalysts for NetEase and maintained its Overweight rating on NetEase, Inc. (NTES.US) shares in the US market, with a target price of USD158.
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