Goldman Sachs has released a research report raising the target price for BILIBILI-W (09626, BILI.US) from HK$234 to HK$240, a 2.6% increase, and from $30 to $30.8, a 2.7% increase, while maintaining a "Buy" investment rating.
The report highlights that BILIBILI's third fiscal quarter results and management commentary during non-deal roadshows (NDRs) reaffirm the bank's unchanged investment thesis. The company continues to maintain a high-quality content community with strong user engagement, leveraging improved ad conversion rates and AI-driven monetization. Additionally, its new gaming projects hold significant growth potential through 2026.
Goldman Sachs has raised its revenue forecast for BILIBILI by 0%-1% for 2025-2027, reflecting better-than-expected performance in advertising and other revenue streams. The bank also increased its non-GAAP net profit estimate for 2025 by 5%.