Bilibili price target raised to $17 from $15 at Mizuho

Mizuho analyst Wei Fang raised the firm’s price target on Bilibili to $17 from $15 and keeps a Buy rating on the shares. Heading into the Q1 results, the analyst sees some sequential recovery in enterprise investments and improvement in retail sales, indicating that weak consumer sentiment in China may have bottomed. This partially explains the recent rally for China stocks, the analyst tells investors in a research note. However, structural overhangs such as weak real estate market and high unemployment remain, so it’s not clear the recovery is sustainable, says the firm.