03:00 PM EST, 11/17/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We are reducing our 12-month target price for Bilibili ( BILI ) to USD29 from USD32, based on an implied 2025 P/S multiple of 2.5x (five-year mean: 2.32x). While we are encouraged by the company's significant progress in profitability and the robust 23% growth in its high-margin advertising business during the quarter, our revised target price reflects a more cautious outlook on top-line growth. Q3 earnings beat expectations on all operating metrics. Sales, net profit, and adjusted net profit of CNY7.69B, CNY469M, and CNY786M came in ahead of consensus estimates of CNY7.64B, CNY307M, and CNY642M, respectively. Despite revenue growth challenges, Bilibili ( BILI ) demonstrated impressive operating leverage with adjusted net profit surging 233% Y/Y to CNY786M and adjusted net profit margin expanding significantly to 10.2% from 3.2% in Q3 2024. We maintain our EPADS forecast at CNY4.00 for 2025 and CNY7.93 for 2026.