NetEase price target raised to $165 from $161 at Citi

Citi raised the firm’s price target on NetEase (NTES) to $165 from $161 and keeps a Buy rating on the shares. The firm does not believe that Q4 revenue coming 3%-4% below consensus suggests any change of its resilience and longevity of game portfolio performance. Instead, management’s detailed elaboration and sharing of its view of AI being a transformative multiplier rather than a disruptive factor demonstrates the company’s pioneering in deeply integrated/incorporated AI elements in a number of games, the analyst tells investors in a research note.