Deutsche Bank yesterday initiated coverage of NetEase (NTES) with a Buy rating and $130 price target NetEase has established itself as the second-largest online gaming company in China, offering 100-plus mobile and PC titles spanning a wide range of genres, the analyst told investors in a research note. The firm sees “substantial opportunities” for the online gaming sector via delivering a superior gaming experience and attracting higher spending among gamers. NetEase’s overseas expansion of its game business could serve as a new growth driver and provide upside potential in the long term, contends Deutsche Bank.
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