What did Citigroup change on Feb 11, 2026 for NetEase (NTES)?

On Feb 11, 2026, Citigroup maintained its Buy rating on NetEase and raised the price target to **$165** from **$161**. The update reinforces Citi's positive view on NetEase's revenue and margin trajectory, per The Fly coverage.

How should investors interpret the NTES analyst rating?

The NTES analyst rating being maintained at Buy suggests Citi sees continued upside but no new catalyst. Investors should view it as confirmation of existing expectations and focus on upcoming game releases and guidance for direction.

Does the $165 price target signal a major valuation shift?

No. The move to **$165** from **$161** is a modest adjustment. It reflects slightly stronger near-term assumptions rather than a large revision in long-term value. Investors should compare other brokers' targets before acting.

Where can I read the Citi note and NetEase's earnings call?

The Citi update is reported by The Fly, and the Q4 2025 earnings call transcript is on Seeking Alpha. Both sources provide the primary details that informed Citi's maintained Buy rating and target change.

Analyst Ratings

Citigroup Maintains Buy on NetEase, Inc (NTES) Feb 11, 2026

ByDanny Kontos February 12, 2026February 12, 2026

On Feb 11, 2026, Citigroup maintained a Buy on NetEase, Inc. (NTES). Citi also raised its price target to $165 from $161. The note keeps the NTES analyst rating steady and updates Citi’s valuation assumptions.