NetEase price target raised to $161 from $145 at Goldman Sachs

Goldman Sachs analyst Lincoln Kong raised the firm’s price target on NetEase (NTES) to $161 from $145 and keeps a Buy rating on the shares. The firm believes the company’s two game launches next year, Sea of Remnants and Ananta, will drive a re-rating of the shares. Meanwhile, NetEase’s legacy games have recovered in the past few months, led by Fantasy Westward Journey, the analyst tells investors in a research note.