In a report released today, Thomas Chong from Jefferies maintained a Buy rating on Bilibili, with a price target of $28.00.
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Thomas Chong has given his Buy rating due to a combination of factors that highlight Bilibili’s strong performance and future potential. The company’s second-quarter results showed a significant increase in revenue, with a 20% year-over-year growth, aligning with market expectations. Notably, Bilibili’s advertising segment demonstrated robust growth, driven by performance-based advertising, which is expected to maintain its momentum in the second half of the year.
Additionally, Bilibili’s focus on high-quality content and community culture has contributed to an enhanced user experience and daily active user growth. The company’s strategic initiatives in content diversification, including exploring new categories like podcasts and AI virtual companionship, further strengthen its market position. With improvements in gross and operating profit margins, coupled with effective cost control measures, Bilibili is well-positioned for continued growth, justifying the Buy rating by Thomas Chong.
According to TipRanks, Chong is a 5-star analyst with an average return of 11.8% and a 54.77% success rate. Chong covers the Communication Services sector, focusing on stocks such as Tencent Music Entertainment Group, Cloud Music Inc., and XD, Inc..