Movement Alert｜NetEase Rises 3.24% in Regular Trading, Multiple Banks Raise Target Prices Ahead of Dual Primary Listing

Market Focus

Jun 29

On June 29, NetEase rose 3.24% in regular trading, trading at $128.87/share, with turnover of $16.37 million.

On the news front, NetEase will officially convert to a dual primary listed company on the Hong Kong Stock Exchange on June 30, significantly earlier than market expectations. Multiple international investment banks issued bullish research notes in response. Morgan Stanley reiterated its Overweight rating with a target price of $158, Goldman Sachs raised its target price to HK$264 while reiterating a Buy rating, and Bank of America maintained its Buy rating with a $172 target. Notably, the Shanghai Stock Exchange announced that NetEase has been added to the Stock Connect eligible list, effective the next trading day.

Institutions broadly view the dual primary listing as clearing the key institutional barrier for Stock Connect inclusion, which is expected to introduce mainland capital flows and trigger a valuation re-rating. Additionally, Morgan Stanley highlighted new game launches including the PC version of Lost in the Sea set for July 9 and strong early performance ofErta World as further near-term catalysts.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Multiple international investment banks issued bullish research notes in response. Morgan Stanley reiterated its Overweight rating with a target price of $158, Goldman Sachs raised its target price to HK$264 while reiterating a Buy rating, and Bank of America maintained its Buy rating with a $172 target. Notably, the Shanghai Stock Exchange announced that NetEase has been added to the Stock Connect eligible list, effective the next trading day.</p><p>Institutions broadly view the dual primary listing as clearing the key institutional barrier for Stock Connect inclusion, which is expected to introduce mainland capital flows and trigger a valuation re-rating. Additionally, Morgan Stanley highlighted new game launches including the PC version of Lost in the Sea set for July 9 and strong early performance ofErta World as further near-term catalysts.</p><p>(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. 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