Goldman Sachs likes these 2 mobile gaming stocks set for 'blockbuster' launches, gives one 40% upside

📆 26/04/2024 00:40:00
📰 CNBC

⏱ Reading Time:
24 sec. here
9 min. at publisher
📊 Quality Score:
News: 37%
Publisher: 72%

Roblox Corp News

Tencent Holdings Ltd,Tencent Holdings Ltd,Netease Inc

The second quarter is 'set to be an accelerating quarter with blockbuster title launches' for the two global names, the investment bank's analysts say.

Investors seeking exposure to China's growing mobile gaming industry should look at technology giants Tencent and NetEase , according to Goldman Sachs. The investment bank expects "China to see faster growth from mid 2024 supported by game launches and a loosening regulatory environment." Goldman's optimism on Tencent and NetEase despite expectations that both companies will have a slow first quarter "given lack of new game contributions and a high base last year.

The median price target of 58 analysts polled by FactSet points to a 21% upside for the stock. Among the analysts, 56 having a buy or overweight rating, one has a hold rating and one has a sell rating. NetEase NetEase posted a 16% year-on-year rise in domestic sales growth and 1% rise in international sales growth last month, Goldman's analysts noted. They are now expecting shares in the tech giant to rise by around nearly 40% to $129 in the next 12 months.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Goldman Sachs likes these stocks that are growing profitablyWith the stock market's profitability near all-time highs, these names could see big growth over the next 12 months.
Source: CNBC - 🏆 12. / 72 Read more »

U.S. stocks have ‘limited upside' from here, says Goldman Sachs Asset ManagementU.S. stocks have “limited upside” from here and investors should be looking for better opportunities elsewhere, according to Goldman Sachs Asset…
Source: NBCLA - 🏆 319. / 59 Read more »

Goldman Sachs: An Easier Fed Could Unleash a Lot of Earnings PowerStocks Analysis by Brian Gilmartin covering: Nasdaq 100, S&P 500, Citigroup Inc, Goldman Sachs Group Inc. Read Brian Gilmartin's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

Goldman Sachs is strong, Netflix raises questions: What we learned from earnings this weekEarnings from major banks, as well as UnitedHealth Group and Netflix, kicked off what could be a rocky earnings season.
Source: CNBC - 🏆 12. / 72 Read more »