Zhi Tong Cai Jing·2025-11-17 03:55Core Viewpoint - Goldman Sachs has raised the target price for Bilibili-W (09626, BILI.US) by 2.6% to HKD 240 and by 2.7% to USD 30.8, maintaining a "Buy" investment rating [1] Group 1: Financial Performance - Bilibili's Q3 performance and management comments during the non-deal roadshow (NDR) reaffirm Goldman Sachs' investment thesis [1] - Revenue forecasts for Bilibili from 2025 to 2027 have been increased by 0%-1%, reflecting better-than-expected advertising and other income [1] - The non-GAAP net profit forecast for 2025 has been raised by 5% [1] Group 2: Business Strategy and Growth Potential - Bilibili is maintaining a high-quality content community with strong user engagement [1] - The company is leveraging higher advertising conversion rates and artificial intelligence (AI) technology for traffic monetization [1] - New gaming projects are expected to offer significant growth potential until 2026 [1]