Morgan Stanley Downgrades NetEase to Equal-Weight, Lowers Price Target to $100
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley has downgraded NetEase (NASDAQ:NTES) from Overweight to Equal-Weight and lowered its price target from $120 to $100.
May 23, 2024 | 9:26 am
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NEGATIVE IMPACT
Morgan Stanley downgraded NetEase from Overweight to Equal-Weight and reduced the price target from $120 to $100.
The downgrade from Overweight to Equal-Weight and the reduction in the price target from $120 to $100 by Morgan Stanley is likely to negatively impact NetEase's stock price in the short term as it reflects a less optimistic outlook from a major financial institution.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100