Shares of Bilibili (BILI, Financial) saw a pre-market increase of over 2.8%, reaching $21.53. The rise follows positive analyst ratings from Bank of America and Deutsche Bank, both of which anticipate a favorable long-term profitability outlook for the company.
Bank of America raised its target price for Bilibili's Hong Kong shares from HKD 180 to HKD 195, maintaining a "buy" rating. The banking institution is optimistic about Bilibili's advertising business, expecting strong growth throughout the year. Furthermore, it highlighted the robust performance of Bilibili’s flagship ARVR game "Three Kingdoms: Tactics," indicating confidence in its continued long-term success.
Similarly, Deutsche Bank increased its target price for Bilibili's Hong Kong shares from HKD 188 to HKD 220, also maintaining a "buy" rating. The bank expects the game "Three Kingdoms: Tactics" to expand into overseas markets later this year, which could further enhance the company's monetization potential.
