Bilibili price target raised to $22.50 from $19 at BofA

BofA raised the firm’s price target on Bilibili (BILI) to $22.50 from $19 and keeps a Buy rating on the shares. The firm expects Bilibili will likely report a Q3 beat with a positive Q4 outlook due to better game business growth amid the strong performance of new game Sanmou, as well as advertising business momentum. The analyst increased estimates to reflect e solid key business trends.