Major Bank Ratings | UBS: Bullish on Bilibili's Advertising Growth Outlook, Raises Hong Kong Stock Target Price to HKD 314.9

Gelonghui Jan 15｜UBS released a research report stating that Bilibili’s management believes the company’s fourth-quarter performance met expectations. Looking ahead to 2026, management holds a constructive view on advertising growth prospects, noting that the demand from AI and gaming advertisers has shown early signs of increase. The company is confident in its ability to continuously secure budget allocations from e-commerce advertisers and will actively expand into new verticals to broaden its advertising client base. UBS has raised its 2026 revenue and profit forecasts by 1% and 2% respectively, due to better advertising growth prospects; the target price for Hong Kong shares has been raised from HKD 279.9 to HKD 314.9, and the US shares target price has been raised from USD 36 to USD 40.5, maintaining a “Buy” rating.