Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>JPM Axes NTES-S (09999.HK) TP to $170, Rating Overweight
Recommend 6 Positive 14 Negative 2 |
||||
|
||||
|
JPMorgan commented in its recent report that NTES-S (09999.HK)'s weak 2Q deferred revenue made the broker more conservative on its game revenue growth in 2H24. The broker axed the TP for the company's H-shares to $170 from $200, with an Overweight rating unchanged. JPMorgan lowered its 2024-2025 revenue forecasts for the company by 5% and 8% respectively along with lower estimates for games and value-added services. The broker expected game revenue to rise by 6% YoY in each of 2024 and 2025, while reducing the 2024-2025 adjusted earnings forecasts by 8% and 9% to reflect the downward revision of earnings forecasts for the game business. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
