Morgan Stanley Maintains Overweight on NetEase, Lowers Price Target to $120
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Alex Poon has maintained an Overweight rating on NetEase (NASDAQ:NTES) but lowered the price target from $135 to $120.
April 12, 2024 | 11:00 am
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NEUTRAL IMPACT
Morgan Stanley maintains an Overweight rating on NetEase but reduces the price target from $135 to $120.
The adjustment in price target by a major analyst like Morgan Stanley can influence investor sentiment and market perception of NetEase. However, maintaining an Overweight rating indicates a positive outlook on the company's fundamentals, which might balance the impact of the lowered price target. The immediate market reaction could be mixed, reflecting the dual nature of the update.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100