Bilibili price target raised to $16 from $13 at Barclays

Barclays analyst Jiong Shao raised the firm’s price target on Bilibili to $16 from $13 and keeps an Equal Weight rating on the shares. The company BILI delivered Q3 results that, for the first time, showed better than expected gross margin and lower than expected expenses across the board, Shao tells investors in a research note. However, the analyst believes risks remain high for Bilibili to achieve its guidance of breakeven by 2024.