Bilibili upgraded to Equal Weight from Underweight at Barclays

Barclays upgraded Bilibili to Equal Weight from Underweight with a price target of $14, up from $10. The company reported solid revenue in Q1 coupled with better margins, which cut losses by roughly half year-over-year, the analyst tells investors in a research note. The firm says management reiterated its breakeven timeline by Q3. With “much better visibility” on breakeven timing, Barclays upgrades Bilibili to Equal Weight.