Alex Liu, an analyst from Bank of America Securities, reiterated the Buy rating on Bilibili. The associated price target is $30.00.
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Alex Liu has given his Buy rating due to a combination of factors, primarily the growing recognition of Bilibili’s unique PUGC social video ecosystem and its strong user metrics achieved without heavy marketing spend. He argues that this scarcity value, combined with accelerating core business trends and limited direct competition, justifies a valuation premium even after a near‑term EPS reset from stepped‑up AI investment.
Liu also highlights management’s confidence in long‑term monetization drivers, including an expanding ads business supported by improving ad infrastructure and AI tools, as well as promising new casual game launches with large DAU potential. Although he trims 2026–2027 adjusted net income forecasts to reflect higher AI spending and slightly lowers the DCF‑based price objective to $30, he still expects Bilibili to deliver faster earnings growth than peers, supporting his reiterated Buy rating despite risks from competing video platforms and potential ad or game revenue shortfalls.
In another report released on March 17, J.P. Morgan also upgraded the stock to a Buy with a $35.00 price target.