Bilibili price target lowered to $15 from $16 at Barclays

Barclays analyst Jiong Shao lowered the firm’s price target on Bilibili to $15 from $16 and keeps an Equal Weight rating on the shares. The company reported broadly in-line Q2 results and lowered fiscal 2023 revenue guidance, the analyst tells investors in a research note. The firm considers the revised outlook “more achievable,” but does not yet consider it to be conservative enough as it still factors in acceleration in the growth of the VAS business and a big jump in games revenue in Q4.