NetEase.com (NTES)

[eastunder]

Deutsche Bank Cuts NetEase.com (NTES) to Hold, Company in 'Twilight Years'


http://www.streetinsider.com/Downgrades/Deutsche+Bank+Cuts+NetEase.com+%28NTES%29+to+Hold%2C+Company+in+Twilight+Years/8885466.html

Deutsche Bank downgraded NetEase.com (NASDAQ: NTES) from Buy to Hold with a price target of $66.00 (from $73.00). Analyst Vivian Hao believes the company is in its "twilight years."

"We believe NetEase is likely to go through a painful transitional period from PC game incumbent to mobile internet with limited catalyst currently," said analyst Hao.

"We believe a premium over other peers is justified given NetEase's leading online game operating and game developing history, more diversified game portfolio (both licensed and in-house developed) and regular dividend policy started from FY12. In our opinion, NetEase is largely trading at fair value," she added.