NTES Q4 Results To Be Ahead Of Street View

Analyst C Ming Zhao of Susquehanna Financial maintains his "positive" rating on NetEase.com Inc (NASDAQ: NTES), while reducing his estimates for the company. The target price for NTES has been reduced from $51 to $47.

According to Susquehanna Financial, NetEase.com’s Q4 results would be ahead of the consensus expectations. The overhang on the NTES’ stock regarding the company’s approval from GAPP will be removed soon, the analyst says.

“We view NetEase as one of the few companies that has the goal to develop masterpieces,” the analyst mentions. Susquehanna Financial has reduced its EPS estimates for 2009 and 2010 from $2.15 to $2.10 and from $3.35 to $3.09, respectively, to reflect the later-than-expected launch of the company’s WLK product.

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