CLSA analyst Elinor Leung upgraded Bilibili to Buy from Outperform with a price target of $16.80, up from $12.20. The firm forecasts Bilibili’s total revenue to grow 13.5% year-over-year in Q1 and with three new games in the pipeline, mobile game revenue could resume positive year-over-year growth for 2024. Higher ad and game revenue growth will likely drive adjusted net profit to break even in Q3, the analyst tells investors.
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