美银证券发表研报指，哔哩哔哩-W(09626.HK) (BILI.US) 2024年广告收入按年增长28%，管理层对广告业务发展信心十足，该行料其今年广告业务维持强劲增长。同时该公司旗舰游戏《三国：谋定天下》表现强劲，为去年收入及利润带来重要贡献，美银认为，通过推出不同赛季及更新，哔哩哔哩可持续推动游戏收入增长，看好此游戏的长期经营，公司亦计划于2025年下半年推出《三谋》港澳台版及另一款休闲游戏。
哔哩哔哩管理层表示长远有信心将毛利率提升至介乎40%至45%，美银指，高利润广告及游戏业务增长及AI采用有助改善长期盈利前景，目前投资者对该公司的长期盈利展望反应正面，包括看好收入结构改善及AI应用下成本优化。考虑末季业绩胜预期，美银将哔哩哔哩2024至2026年每股盈测调整介乎3%至5%，并将H股目标价由原先180元上调至195元，因长期盈利前景向好，重申“买入”评级。(gc/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-02-25 16:25。) (美股为即时串流报价； OTC市场股票除外，资料延迟最少15分钟。)
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