NetEase.com Benefitting From China's Growing Economy, PT Raised To $55 By Auriga

Auriga USA has published a research report on NetEase.com (NASDAQ: NTES) after the company reported its strength due to game sales and benefits from China's growing economy.

In the report, Auriga writes "NTES has a good line up of high quality games, which makes 2011 an exciting year for the company. We believe NTES is set in terms of game content as it has two good sources – Blizzard with its proven titles and the company's own inhouse developed games. 2011's game pipeline includes: 1) in 1Q11 – A new expansion pack for FWWJ; 2) in March – testing of Westward Journey Genesis game; 3) in April – testing for Ghost; 4) StarCraft II in 2H11. NTES is currently undergoing preparations for the hardware required for installation; We believe StarCraft II could be launched in late 2Q11 or beginning of 3Q11. NTES has already submitted it for government approval; and 5) in 4Q11 - Cataclysm launch, we believe, could hit the market toward the end of 4Q11."

Auriga maintains its Buy rating and has raised the price target from $52 to $55.

NetEase.com closed yesterday at $42.88.