Barclays upgrades Bilibili to Overweight on ‘blockbuster’ game launch

Barclays analyst Jiong Shao upgraded Bilibili to Overweight from Equal Weight with a price target of $19, up from $14. The company reported a “beat and raise” Q2 and will potentially turn profitable for the first time in Q3, the analyst tells investors in a research note. The firm says Bilibili’s revenue growth is accelerating, powered by the “highly successful” launch of its “blockbuster” new game San Mou and continued strong growth in advertising.