Bilibili price target raised to $30 from $24 at Benchmark

Benchmark analyst Fawne Jiang raised the firm’s price target on Bilibili (BILI) to $30 from $24 and keeps a Buy rating on the shares after the company reported Q4 results above expectations, driven by the “solid” performance of San Mou and stronger-than-anticipated advertising revenue. Given Bilibili’s undermonetized ad ecosystem, the firm sees headroom for growth potential, the analyst tells investors.