Macquarie analyst Ellie Jiang raised the firm’s price target on Bilibili (BILI) to $30 from $29.10 and keeps an Outperform rating on the shares. The firm says Bilibili’s strong Q1 was driven by rapid advertising growth, as diverse sectors helped boost expansion in the ad segment. The games segment faces a high base effect, while a healthy net title pipeline towards Q4 should support a more optimistic outlook, Macquarie adds. The firm thinks an AI-related R&D pickup should be offset partially by cost management.
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