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瑞士信贷：将哔哩哔哩目标价由314港元下调至196港元，评级维持跑赢大市

Credit Suisse: lowered Bilibili Inc. 's target price from HK $314 to HK $196, keeping its rating outperforming the market.

Moomoo 24/7 ·  Sep 13, 2022 03:42
According to a research report published by Credit Suisse, Bilibili Inc. 's income rose 9 per cent year-on-year in the second quarter roughly in line with expectations, with a gross profit margin of 15 per cent as expected and an adjusted loss of about 2 billion yuan. The company's revenue guidance for the third quarter rose 9% year-on-year, lower than expected. The bank believes that with Bilibili Inc. 's cost leverage and segment businesses such as advertising and live broadcast of the gross margin, the company's gross margin will bottom out in the second half of the year. Optimizing operating expenses takes time to grow and break even with the target for fiscal year 2024. The bank cut its profit forecast for fiscal 2022 by 13 per cent and adjusted its profit forecasts for 2023 and 2024, lowering its target price from HK $314 to HK $196, maintaining an outperformance rating.
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