Bilibili downgraded to Underweight from Equal Weight at Barclays

Barclays downgraded Bilibili to Underweight from Equal Weight with a price target of $10, down from $15. The company reported “inline-ish” Q3 results but a weaker than expected Q4 revenue growth outlook now is compounding the challenges Bilibili has been dealing with to fix its long standing bloated cost structure, the analyst tells investors in a research note. As such, the firm cut estimates and downgraded the shares.