Bilibili (BILI, Financial) saw its shares increase by over 1% pre-market, trading at $18.5. Goldman Sachs released a report indicating that Bilibili's third-quarter results were largely in line with expectations, marking the first time the company has achieved break-even. The firm maintained a "buy" rating for Bilibili and raised its target price for the Hong Kong shares from HKD 176 to HKD 180, anticipating higher profitability driven by gaming and advertising businesses.
Daiwa also published a report noting that Bilibili achieved non-GAAP operating income and net profits for the first time in the third quarter, describing the breakeven as just the beginning. They foresee a clearer long-term profit outlook, reaffirmed their "buy" rating, and increased their target price for the Hong Kong shares from HKD 215 to HKD 225.
