UPDATE: Deutsche Bank Downgrades NetEase Following 3Q Revenue Report, Bottom-Line Miss

In a report published Friday, Deutsche Bank analyst Vivian Hao downgraded the rating on NetEase (NASDAQ: NTES ) from Buy to Hold, and lowered the price target from $73.00 to $66.00. In the report, Deutsche Bank noted, “NetEase recorded 3Q total gross revenues of Rmb2.5b (+4%QoQ/23%YoY), broadly in-line with our