Bilibili price target raised to $16.50 from $14.80 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Bilibili to $16.50 from $14.80 and keeps a Neutral rating on the shares. The analyst believes the stock price will sustain at least at the current level into the Q2 earnings print. Bilibili’s Q3 guidance is expected to be strong, which should serve as a catalyst, the analyst tells investors in a research note. The firm believes upside remains for the advertising business, supported by unlocking more ad inventories through new scenarios opening for commercialization.