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<Research> JPM: BILIBILI-W (09626.HK) Outlook Positive, Expects Operating Profit to Rise 23% This Year
Recommend 8 Positive 8 Negative 6 |
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JPMorgan published a research report stating that it set a TP of HKD270 on BILIBILI-W (09626.HK) and a TP of USD35 on Bilibili Inc. (BILI.US). The current valuation is attractive and investors are advised to accumulate the stock, with a rating of "Overweight". The broker is positive on BILIBILI-W's share price outlook, noting that its recent underperformance was mainly due to the overall decline in Chinese internet stocks and market concerns over potential stake reductions by major shareholders. However, the broker believes such concerns are excessive. The broker is positive on BILIBILI-W's investment in artificial intelligence, believing the investment offers a high rate of return as it can partially replace existing user acquisition costs, while the company will also improve its current expense structure. Therefore, the impact on overall profit in 2026 should be less than RMB500 million. The broker continues to forecast that the company's operating profit will increase by 23% in 2026, accelerating further to 48% in 2027 driven by faster growth in gaming revenue. The broker lowered its 2026 gaming revenue forecast by 6%, but raised its 2027 gaming revenue forecast by 4%. It also expects advertising revenue to grow by up to 27% in 2026. (sl/da) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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