NetEase price target raised to $115 from $105 at Benchmark

Benchmark analyst Fawne Jiang raised the firm’s price target on NetEase (NTES) to $115 from $105 and keeps a Buy rating on the shares. NetEase reported “mixed” Q4 results, with revenue falling short of consensus expectations but “a solid beat on profitability,” the analyst tells investors. The outlook for games has improved “modestly,” prompting the firm to raise its FY25 games growth projection to 6.5%, up from 5%, the analyst added.