Goldman Sachs slightly raised target price of Bilibili to HK$200 from HK$197, reiterating Neutral rating
Goldman Sachs slightly raised target price of Bilibili to HK$200 from HK$197, reiterating Neutral rating

Goldman Sachs slightly raised target price of Bilibili to HK$200 from HK$197, reiterating Neutral rating

Goldman Sachs slightly raised target price of Bilibili to HK$200 from HK$197, reiterating Neutral rating

Based on Bilibili management’s outlook guidance, the company’s advertising revenue accelerated again in Jan – Feb this year, and as macroeconomic conditions improve, Bilibili is expected to regain its position as the winner in mainland China’s internet field in terms of advertising budget share, the bank said. 

The management has also decided to cut less profitable businesses and reduce the revenue sharing on the live streaming platform, which improves the visibility of next year’s balance of income and expenditure, however, the mobile gaming business is still under development, and potential blockbuster games may not appear until 2025, it added.

Bilibili shares gained 2.6% to close at HK$173.3 on Monday.