Yamato: Bilibili's target price is raised to HK$245 and reiterated as a "buy" rating

Yamato published a research report stating that Bilibili's adjusted net profit in the third quarter was 22% higher than market expectations, while revenue roughly met market expectations. With the rising popularity of the new game "Escape Duckkov," the bank remains optimistic about its game development capability and long-term operating prospects, expecting more games to be launched by the end of this year or early next year. As for the fourth quarter, the bank expects advertising revenue to continue to grow, with a year-on-year increase of over 20%. The bank reiterated its "buy" rating on the company, increasing its target price from HK$220 to HK$245.