<h3>CMSC: NetEase's target price raised from $134 to $136, and the target price in Hong Kong raised from HK$209 to HK$212</h3>
<p>For this year, the bank expects NetEase's existing games to continue to perform strongly, such as &#34;Justice&#34; mobile game, &#34;Egg Party&#34;, &#34;Peak Speed&#34;, and &#34;All-Star Streetball Party&#34;. At the same time, new games like &#34;Yanyun Sixteen Sounds&#34;, &#34;Mission Zero&#34;, and &#34;Eagle Shooting&#34; that have the potential to be launched later this year, as well as &#34;Endless Abyss&#34; mobile game, which obtained a license in February and is expected to be released in the second quarter, are highly anticipated by the market.</p>
<p>The bank expects NetEase's revenue to grow at a compound annual growth rate of 12% from 2023 to 2025, with a core operating profit growth rate of 18%.</p>
<p>The bank believes that the company's performance in the fourth quarter of last year was slightly below expectations, but it remains optimistic about this year's prospects. They are bullish on NetEase's strong game development capabilities, rich game reserves, initiatives to continuously improve profit margins, as well as the growth in CLOUD MUSIC's paid users and profit margin trends.</p>
<h3>Fuli: Maintains a &#34;Buy&#34; rating for CLOUD MUSIC, with a 24% target price increase to HK$102</h3>
<p>The bank expects the company's total revenue in 2024 to increase by 4% year-on-year to RMB 8.2 billion. Online music revenue is expected to grow by 18% to RMB 5.1 billion, benefiting from an increase in paid users and average revenue per paying user (ARPPU); social entertainment revenue is expected to decrease by 14% year-on-year to RMB 3 billion, mainly due to the bottoming out in the adjusted fourth quarter of 2023.</p>
<p>It is also expected that the gross profit margin will expand by 2.3 percentage points to 29% in 2024, benefiting from strong cost control. Overall, the momentum of online music services is expected to be similar to 2023, while social entertainment should remain stable after hitting bottom in the fourth quarter of last year.</p>
<h3>Daiwa: Reiterates a &#34;Buy&#34; rating for the Hong Kong Stock Exchange, with the target price lowered from HK$400 to HK$330</h3>
<p>The bank has adjusted its revenue forecasts for the next two years by approximately -1% to +1%, and based on increased expenses, it has lowered its net profit forecast by 8% to 13%, preparing for a market rebound.</p>
<p>The company's operating expenses in the fourth quarter of last year increased by 12% year-on-year, mainly due to increased staff costs, information technology fees, and post-pandemic business travel. In addition, the company's management emphasized the growth of the London Metal Exchange (LME) business (especially the rapid rebound of the nickel business) and infrastructure improvements. The company's liquidity has also strengthened.</p>
<p>The report mentions that the Hong Kong Stock Exchange has simplified the overseas company's secondary listing regulatory process and acknowledges the current challenging market environment. It hopes to better welcome foreign issuers when the environment improves. The Hong Kong Stock Exchange is investing heavily in marketing to overseas markets interested in listing in Hong Kong, especially in the Middle East and ASEAN markets.</p>
<h3>Morgan Stanley: Reinstates Dell as a top pick, raises the target price from $100 to $128, with a &#34;Hold&#34; rating</h3>
<p>The bank believes that the company's AI server business has shown outstanding support, and the further development momentum of AI servers, growth in personal computers, and the possible inclusion of the company in the S&amp;P 500 index are potential key catalysts for the company's future.
Dell's AI server orders, backlog, channels, and the expanding strength of cloud service providers (CSPs) / enterprise customer base indicate that the company's AI story is still in its early stages and gaining momentum.</p>
<p>The bank believes that Dell's guidance shows that the company's gross margin is under pressure annually, and the management's guidance for the fiscal year 2025 revenue forecast of $93 billion and earnings per share forecast of $7.5 are relatively conservative. The bank's revenue and earnings per share forecasts for the fiscal year 2025 are 3% and 6% higher than the company's median guidance.</p>
<h3>BofA: Raises Eli Lilly's target price to $1000, the highest on Wall Street</h3>
<p>The report states that despite Eli Lilly's cumulative increase of about 30% this year, it remains one of the most popular companies in the coverage universe. BofA believes that besides the obesity and diabetes drugs closely watched by the company, other therapeutic drugs, such as those for treating sleep apnea and heart disease, have not received much attention.</p>
<p>The company's obesity drug Zepbound may become the &#34;leader&#34; in the obesity field in the second quarter. The bank points out that given the scarcity of high-growth stories in the healthcare sector, it is expected that the stock price will continue to strengthen. Eli Lilly's stock price has risen by over 60% in 2023, marking the seventh consecutive year of annual gains.</p>

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<p>Bank of America believes that Eli Lilly, which rose over 60% last year and has risen 30% year-to-date, remains popular! The company's obesity drug Zepbound may become the "leader" in the obesity field in the second quarter. Given the scarcity of high-growth stories in the healthcare sector, it is expected that the stock price will continue to strengthen.</p>

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Rating Quick Look | NetEase and CLOUD MUSIC target prices raised! Wall Street calls for a target of $1000.