《大行報告》瑞銀降嗶哩嗶哩(BILI.US)評級至「中性」 目標價下調至13.2美元
瑞銀發表報告指,對嗶哩嗶哩(09626.HK)(BILI.US)長期看法不變,看好其在中國4.5億以上Z世代人群的領先在線視頻平台的獨特地位,Z世代是中國消費中一支不斷增長的力量。該行調查顯示,嗶哩嗶哩的用戶群樂於接受進一步的貨幣化。
不過,瑞銀預計短期內嗶哩嗶哩將面臨遊戲戰略調整帶來的陣痛,因在削減研發投資,更加專注於遊戲發行下,意味著短期內遊戲數量會減少,遊戲業務增長會放緩,但該行認為是正確的長期舉措。
另外,報告指,於雙十一後,第一季是典型的廣告淡季,該行認為近期缺乏積極的催化劑。將嗶哩嗶哩美股評級由「買入」下調至「中性」。美股目標價由22美元降至13.2美元。當中國宏觀經濟出現明顯復甦時,該行可能會轉而看好嗶哩嗶哩,因為嗶哩嗶哩的廣告業務對宏觀經濟高度敏感。
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