Bilibili price target lowered to $15 from $21 at Benchmark

Benchmark analyst Fawne Jiang lowered the firm’s price target on Bilibili to $15 from $21 and keeps a Buy rating on the shares after the company reported Q4 results in-line with expectations. Heading into FY24, the company is committed to breakeven in Q3, though this is “not an easy task” and “limited resources could potentially further handicap the growth potential,” says the analyst, who lowered the firm’s FY24 revenue estimate in light of the dampened growth outlook.