20230629-交银国际证券-每日晨报_6页_357kb

Report Overview: This report analyzes NetEase (NTESUS/9999HK) and other industries, with a focus on upgrading the target price for NetEase due to strong game performance and future growth prospects, such as contributions from multiple top iOS games and upcoming releases.

Key NetEase Highlights:

• Upgraded target price from $107 to $118, projecting a 21.9% potential upside; revenue growth expected at double digits with new game launches potentially adding 15% to 2024 revenue.
• Current games like "逆水寒" and "巅峰极速" rank highly in download and sales charts, contributing estimated 8% in 2023 and 15% in 2024 to手游收入.
• Analyst maintains "Buy" rating, citing stable operations and overseas growth potential.

Other Report Elements: The document includes numerous daily and depth reports on various sectors like tech, energy, and consumer, authored by analysts from JPMorgan, providing outlooks on economic data and company performances.

Required Readings: The last part of the report details analyst disclosures (e.g., Sun Mengqi may have financial interests), business relationships (e.g., investment banking ties), and disclaimer notices; these sections must be read as they cover potential conflicts, data accuracy limitations, and legal constraints on the report's usage.