Morgan Stanley Increases NetEase Inc. (NTES) Price Target to $233.00
NetEase Inc. (NASDAQ:NTES) had its target price increased by Morgan Stanley from $195.00 to $233.00 in a research report issued to clients and investors on Thursday. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 0.67% from the company’s previous close.
Several other brokerages have also issued reports on NTES. Vetr lowered NetEase from a “buy” rating to a “hold” rating and set a $266.16 price objective for the company. in a research report on Monday, October 10th. Jefferies Group initiated coverage on NetEase in a research report on Thursday, September 29th. They set a “hold” rating and a $245.00 price target for the company. Credit Suisse Group AG initiated coverage on NetEase in a research report on Friday, August 19th. They set a “neutral” rating and a $230.00 price target for the company. Credit Agricole SA raised NetEase from an “underperform” rating to an “outperform” rating and set a $272.00 price target for the company in a research report on Monday, October 3rd. Finally, CICC Research raised NetEase to a “buy” rating and set a $345.00 price target for the company in a research report on Wednesday, October 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $247.53.
NetEase (NASDAQ:NTES) opened at 234.57 on Thursday. NetEase has a 52-week low of $129.60 and a 52-week high of $272.58. The stock has a 50 day moving average of $0.00 and a 200-day moving average of $0.00.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 25th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Tuesday, November 22nd. NetEase’s payout ratio is 23.26%.
A number of hedge funds and other institutional investors have recently bought and sold shares of NTES. Catalyst Capital Advisors LLC purchased a new position in NetEase during the third quarter valued at $110,000. Nippon Life Insurance Co. boosted its position in NetEase by 8.9% in the third quarter. Nippon Life Insurance Co. now owns 783 shares of the company’s stock valued at $189,000 after buying an additional 64 shares during the last quarter. AXA boosted its position in NetEase by 60.0% in the second quarter. AXA now owns 800 shares of the company’s stock valued at $155,000 after buying an additional 300 shares during the last quarter. GRATRY & Co LLC purchased a new position in NetEase during the third quarter valued at $203,000. Finally, Roberts Glore & Co. Inc. IL purchased a new position in NetEase during the third quarter valued at $229,000. Hedge funds and other institutional investors own 59.29% of the company’s stock.
NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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