Bilibili jumps as UBS highlights strength of new game launch

UBS analyst Felix Liu says Bilibili’s new game, San Guo: Mou Ding Tian Xia, reached number on Apple’s iOS in debut, beating expectations. This strong debut performance is better than market expectations, the analyst tells investors in a research note. Although sustainability from here is key, the strong initial performance “should drive positive market reactions,” says the firm. UBS has a Buy rating on Bilibili with an $18 price target. The stock in morning trading is up 8%, or $1.11, to $15.50.