Piper Jaffray Reports NTES Update

Piper Jaffray has published an update on NetEase.com NTES and the beta release of its new game.

According to Piper Jaffray, “NetEase announced free open beta of new game StarCraft II (SC2) will begin March 29, and SC2's commercial launch will be announced in the near future. Despite the heightened buzz surrounding SC2, we believe the game will drive incremental FY11E EPS of ~$0.02, according to our estimates of around $12m in revenue.”

NTES has a Neutral Rating and a $48 PT.

NTES is currently trading at $44.03.