NetEase Inc (NASDAQ:NTES) Gets an Upgrade to a Neutral Rating

Netease Inc now has $45.47B valuation. Nomura raised NetEase from a "neutral" rating to a "buy" rating and boosted their price target for the company from $297.00 to $428.00 in a research note on Friday, November 17th. Bank of America Corporation's price target would indicate a potential upside of 4.88% from the company's previous close.

A number of other brokerages have also recently weighed in on NTES. The company was maintained on Monday, September 21 by Credit Suisse. Standpoint Research upgraded NetEase Inc (ADR) (NASDAQ:NTES) rating on Wednesday, August 26. The firm has "Hold" rating by Jefferies given on Tuesday, October 3. Zacks Investment Research cut shares of NetEase from a buy rating to a hold rating in a research report on Tuesday, August 8th. On Monday, October 3 the stock rating was upgraded by CLSA to "Outperform". Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company's stock. The stock now has a consensus rating of "Hold" and an average target price of $326.79. The stock decreased 1.00% or $3.49 on November 24, reaching $344.21. Keywise Capital Management Ltd sold 1,950 shares as Netease Inc (NTES)'s stock declined 3.53%. NetEase has a 1 year low of $211.11 and a 1 year high of $375.10. The ex-dividend date is Thursday, November 30th. This represents a $2.87 annualized dividend and a yield of 0.83%. NetEase's dividend payout ratio (DPR) is 20.11%. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company's stock worth $819,517,000 after purchasing an additional 456,300 shares during the period. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Several research analysts have recently commented on NTES shares. Teachers Advisors LLC now owns 35,083 shares of the technology company's stock worth $9,964,000 after buying an additional 2,300 shares during the last quarter.

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Daiwa Sb Investments Ltd decreased Alibaba Group Holding (NYSE:BABA) stake by 16,000 shares to 80,850 valued at $11.39M in 2017Q2. Comgest Global Investors S.A.S. now owns 2,265,783 shares of the technology company's stock worth $597,737,000 after buying an additional 58,279 shares in the last quarter. Huntington National Bank grew its holdings in NetEase by 84.7% during the 2nd quarter. OLD National Bancorp IN now owns 930 shares of the technology company's stock worth $280,000 after buying an additional 4 shares during the last quarter. Finally, Aperio Group LLC increased its stake in shares of NetEase by 4.3% in the second quarter. Institutional investors and hedge funds own 50.70% of the company's stock. "(NTES) Upgraded by Nomura to "Buy" was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this news story on another site, it was illegally copied and reposted in violation of USA and worldwide trademark and copyright legislation.

NetEase announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. The Firm operates an interactive online community in China and is a well-known provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Firm operates through three divisions: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

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