Bilibili Inc ADR
BILI: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$53.00 | Rtcpx | Sntsnltj |
Bilibili: New Game a Win, but Advertising Holds the Key to Long-Term Success; Shares Undervalued
Bilibili’s second-quarter earnings exceeded our expectations, and management provided upbeat guidance for the third quarter following the successful launch of its new mobile game. We lifted our near-term estimates but leave the bulk of our long-term assumptions intact, as the success of one game doesn’t change our long-term outlook for Bilibili’s game business. As a result, we maintain our USD 34 (HKD 266) per share fair value estimate and view shares as undervalued.