CICC International: Netease-S (09999.HK) regains momentum, raises target price to HK$226.2.

According to the app of Wisdom Finance, CIB International has released a research report stating that the target price for NetEase-S (09999.HK) has been raised from HK$184.6 to HK$226.2; the target price for NetEase (NTES.US) has been increased from US$118.3 to US$145. This is based on a forecasted 2025 P/E ratio of 17 times, which is 0.25 standard deviations higher than NetEase's five-year average, which was previously 15 times. This adjustment is due to considering the resilience of traditional games and the increase in global exposure of the NetEase brand, leading to enhanced growth visibility. The rating of "outperform market" is maintained.