Weekly Recap | NetEase +2.44%, consensus target over 25% above spot
Weekly Review·
- NetEase shares rose 2.44 % to close at 128.17 dollars amid volatile trading, driven by strong second-quarter revenue of 30.1 billion yuan that grew 7.9 % year-over-year.
- Non-GAAP net profit declined 18.7 % to 7.747 billion yuan due to investment losses, though management's positive earnings call remarks sparked a strong rebound.
- Thirty-two institutions maintain a consensus strong buy rating with a target price of 161.09 dollars, representing over 25 % upside from the current price.