0335 GMT - Bilibili is likely to face challenges in the next few quarters, Nomura analysts Jialong Shi and Rachel Guo say in a research note. The company's blockbuster title "San Mou" will reach its one-year anniversary in 2Q, which could mean slower growth in the online gaming revenue generated as the base normalizes, the analysts say. Meanwhile, it is hard to identify another new title in the company's pipeline that could boast similar potential as "San Mou," the analysts say. Bilibili's advertising revenue growth is likely to decelerate in 2025 amid a still-weak advertising market and an unforgiving base effect, the analysts add. Nomura downgrades Bilibili to neutral from buy, but raises its target price on the ADRs to $25.00 from $20.00. The ADRs last closed at $20.53. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
February 24, 2025 22:35 ET (03:35 GMT)
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