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<Research>BOCI Adds NTES-S TP to $198; PC Game Growth Momentum Underestimated
Recommend 4 Positive 5 Negative 4 |
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The growth trend of NTES-S' (09999.HK) (NTES.US) PC games has been underestimated, and it is benefiting from accelerated internationalization, according to a report from BOCI. The broker forecasted NTES-S' core online game total revenue to grow by 6% YoY to RMB20.7 billion, performance between PC and mobile to continue diverging in 4Q24, and PC and mobile revenues to climb by 48% YoY and decline by 7% YoY respectively. In BOCI's opinion, the market still underestimates NTES-S' PC game growth trend this year with a current prediction of a 42% YoY growth in 2025 PC game revenue to RMB30.6 billion. The broker kept the company as its top pick with a Buy rating, while raising the target prices for its US and Hong Kong shares to US$127 and $198 respectively. AAStocks Financial News |
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