Movement Alert｜BILIBILI-W Falls 5.25% in Regular Trading after Jefferies Cuts Target Price to HK$221

Market Focus10-14

On October 14, BILIBILI-W fell 5.25% in Regular Trading, trading at HK$113.7, with turnover of HK$644 million.

The clearest catalyst was a target price cut by Jefferies to HK$221 from HK$258, while the bank maintained its buy rating.

Jefferies said macro uncertainty is affecting the advertising market, prompting it to lower its third-quarter advertising forecast and trim full-year ad growth expectations to 21.6% from 23%. The bank now expects third-quarter total revenue to rise 7.3% year over year to RMB8.2 billion, while keeping its full-year adjusted operating profit forecast of RMB2.891 billion and adjusted net profit forecast of RMB2.852 billion unchanged. The target cut appeared to act as the direct pressure point on the shares despite the unchanged buy rating.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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