大行评级丨小摩：重申网易“增持”评级 目标价295港元

Group 1 - The core viewpoint of the article is that Morgan Stanley finds the valuation of NetEase-S (9999HK) attractive, especially after a recent pullback, with a current P/E ratio of 13 times, which is a 25% discount compared to its average over the past five years [1] - Morgan Stanley reaffirms that NetEase is their top pick in the Chinese digital entertainment sector and maintains an "overweight" rating with a target price of HKD 295 [1]