Daiwa raised the target price for Bilibili (09626) to HKD93.4 from HKD78.9 and maintained the "hold" rating.
The research house said it raises 2024-25E revenue by 2% due to the incremental revenue from ads. It also revises up the 2024-25E earnings by 4-5% as the high-margin ads contribution is likely to continue to increase.
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