Piper Jaffray: NetEase.com Continues to Produce Popular Games

According to a research report published today by Piper Jaffray, NetEase.com's

core games are continuing to perform well. In the report, Piper Jaffray said, “We expect NetEase will continue to expand its game portfolio by adding more self-developed games with diversified game genres, in addition to possible licensed games including Blizzard's Diablo 3 and Call of Duty, in our view. We reiterate our OW rating on NTES shares with a price target of $67, based on 12x CY12E EPS plus net cash.” NetEase.com closed Friday at $58.10.