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<Hindsight>Brokers' Latest TPs/ Opinions on NTES-S Post-results
Recommend
2
Positive
6
Negative
4
The table below lists ratings and target prices of 5 brokers for NTES-S (09999.HK):

Broker│ Rating│ TP (HKD)
UBS│Buy│268.3
HSBC Global Research│Buy│246->245
Jefferies│Buy│242
Goldman Sachs│Buy│225
JPMorgan│Neutral│220
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Related NewsHSBC Research Lowers 2025-27 Earnings Forecasts for NTES-S by 1-3%; TP Adjusted to HKD245
The table below lists ratings and target prices for NetEase (NTES.US) from 9 brokers:

Broker│ Rating│ TP (US$)
UBS│ Buy│172
CMBI│ Buy│136.5->160
Citi│ Buy│157->158
HSBC Global Research│ Buy│158->157
Nomura│ Buy│157
Jefferies│ Buy│155
Goldman Sachs│ Buy│144
JPMorgan│ Neutral│140
CLSA│ Outperform│140
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Broker│ Opinion
UBS | Quarterly results were in line with expectations, with strong 2Q25 deferred revenue
CMBI | 2Q24 profit was in line with expectation, with positive half-year outlook for the game sector
Citi | 2Q25 revenue and non-GAAP net profit missed expectations
HSBC Global Research | Quarterly results slightly missed forecasts, but recovery unaffected
Nomura | Quarterly results were slightly below estimations amid high market consensus
Jefferies│ Quarterly revenue and non-GAAP net profit beat its expectations
Goldman Sachs│ Quarterly results were in line with expectations, with record-high gross margin offsetting QoQ increase in sales & marketing expenses, and a strong deferred revenue
JPMorgan│ Quarterly results were largely in line with expectations, while sales and marketing expenses rose QoQ
CLSA│ Quarterly results were slightly below expectations, but game reserves were solid

Related NewsRatings, TPs for NTES-S (Table)

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