--- title: "Daiwa: Raises Bilibili target price to 250 yuan, reiterates \"Buy\" rating" type: "News" locale: "en" url: "https://longbridge.com/en/news/278316968.md" description: "Daiwa has raised the target price for Bilibili to RMB 250 and reiterated a \"Buy\" rating. It is expected that advertising revenue will grow by 27% year-on-year in the fourth quarter of 2025, driven by an increase in advertising budgets for artificial intelligence. Advertising revenue is expected to grow by 28% in the first quarter of 2026. Meanwhile, daily active users are expected to increase by 10% to 113 million. Daiwa has lowered its earnings per share forecast for 2026 to 2027 by 9% and 11%, respectively, to reflect increased investments in artificial intelligence" datetime: "2026-03-09T03:35:33.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278316968.md) - [en](https://longbridge.com/en/news/278316968.md) - [zh-HK](https://longbridge.com/zh-HK/news/278316968.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/278316968.md) | [繁體中文](https://longbridge.com/zh-HK/news/278316968.md) # Daiwa: Raises Bilibili target price to 250 yuan, reiterates "Buy" rating Daiwa published a research report indicating that Bilibili-W (09626.HK) will see its advertising revenue grow at an accelerated rate of 27% year-on-year in the fourth quarter of 2025, driven by increased advertising budgets and efficiency improvements from artificial intelligence-related advertisers. The advertising budget for AI-related ads is expected to grow by 180% year-on-year in the fourth quarter of 2025, with momentum continuing into the first quarter of 2026. In addition to Bilibili's continued advantages in traditional strong verticals, the firm is pleased to see emerging verticals such as education and home decoration gaining market attention. In the fourth quarter of 2025, Bilibili will release more advertising inventory in search, PC, internet TV, and mini-programs, with advertising spending in all these areas recording over 60% year-on-year growth. Daily active users grew by 10% year-on-year to 113 million, marking the fifth consecutive quarter of accelerating growth. Given the enhanced targeting capabilities driven by artificial intelligence, the still low ad loading rates, and a maturing user base with increasing purchasing power, the firm remains optimistic, predicting a 28% year-on-year growth in advertising revenue for the first quarter of 2026. Daiwa has lowered its earnings per share forecast for Bilibili for 2026 to 2027 by 9% and 11%, respectively, to reflect increased investments in artificial intelligence. The "Buy" rating is reiterated, with the target price raised from 245 yuan to 250 yuan, equivalent to a projected price-to-earnings ratio of 35 times (previously 31 times) ### Related Stocks - [ChinaAMC CSI Cultural Entertainment Media ETF (516190.CN)](https://longbridge.com/en/quote/516190.CN.md) - [Guotai CSI Movies Theme ETF (516620.CN)](https://longbridge.com/en/quote/516620.CN.md) - [Yinhua CSI Movies Theme ETF (159855.CN)](https://longbridge.com/en/quote/159855.CN.md) - [GF Fund CSI Media ETF (512980.CN)](https://longbridge.com/en/quote/512980.CN.md) - [ChinaAMC CSI Animation Game ETF (159869.CN)](https://longbridge.com/en/quote/159869.CN.md) - [BILIBILI-W (09626.HK)](https://longbridge.com/en/quote/09626.HK.md) - [Bilibili Inc. (BILI.US)](https://longbridge.com/en/quote/BILI.US.md) - [AXA SPDB CSI Hugangshen Game and Culture Media ETF (517770.CN)](https://longbridge.com/en/quote/517770.CN.md) - [Penghua CSI Media ETF (159805.CN)](https://longbridge.com/en/quote/159805.CN.md) - [Guotai CSI Animation Game ETF (516010.CN)](https://longbridge.com/en/quote/516010.CN.md) ## Related News & Research - [China's Bilibili Q4 profit jumps as revenue increases, costs drop](https://longbridge.com/en/news/277916450.md) - [Bilibili posts first full-year profit as ads and user engagement grow](https://longbridge.com/en/news/278028597.md) - [Canada says it will let TikTok continue operations in the country](https://longbridge.com/en/news/278458861.md) - [Banijay Group Weighs Tipico Gaming Stake And All3Media Merger Impact](https://longbridge.com/en/news/278333437.md) - [Prosus: buy Tencent at a discount, pocket the rest for free](https://longbridge.com/en/news/278353902.md)