Why Bilibili Shares Jumped 14% Today
Shares of Bilibili (NASDAQ: BILI) were trading 13.9% higher at 2:30 p.m. EST Monday, after rising as high as 14.4% earlier in the day. The China-based online entertainment company saw one bullish analyst report published over the weekend and another one on Monday morning.
UBS analyst Zhijing Liu raised his target price for Bilibili from $90 to $185 per share, reiterating a buy rating on the stock. Goldman analyst Piyush Mubayi also restated an existing buy rating, lifting his target price from $70 to $160 per share. Bilibili closed Friday's trading at $126 per share, having doubled its share prices in three months.
These adjusted price targets followed a plethora of similar updates from firms such as J.P. Morgan and Credit Suisse last week, all based on Bilibili's Street-stumping fourth-quarter report.
Source Fool.com
