Piper Jaffray Neutral On NetEase.com

Piper Jaffray is out with a research report on NetEase.com, Inc. NTES, and it has a Neutral rating and a $51 price target on shares. In a note to clients, Piper Jaffray writes, "Our proprietary Shanghai gamer survey indicates WoW:Cataclysm (PJC estimate: ~30% of revenue) continues to be popular among gamers, despite the technical issues associated with downloading and installing the game in the past few weeks. The continued popularity of WoW, coupled with the stability of NetEase's other core game Fantasy Westward Journey (FWWJ, ~30% of revenue), gives us confidence in our 2Q estimates." Shares of NTES lost $1.00 yesterday to close at $48.95.