Citigroup Maintains Buy on Bilibili, Lowers Price Target to $26.5
Citigroup analyst Brian Gong maintains Bilibili (NASDAQ:BILI) with a Buy and lowers the price target from $27 to $26.5.
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Bilibili (NASDAQ:BILI) released second-quarter financial results and hosted an earnings call on Thursday. Read the complete transcript below. This content is powered by Benzinga APIs. For comprehensive financial data
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Citigroup analyst Brian Gong maintains Bilibili (NASDAQ:BILI) with a Buy and lowers the price target from $27 to $26.5.
The video platform is planning a $700 million capital restructuring that turns Tencent from a core shareholder into a creditor through an equity-to-debt deal image credit: Bamboo Works Key
Bilibili announced a $700 million convertible senior notes offering due 2031, with $200 million subscribed by Tencent. The company plans to use proceeds for AI-driven growth initiatives, share repurchases ($100 million for delta repurchase and $200 million for Tencent shares), and general corporate purposes. The offerings are subject to shareholder approval at an extraordinary general meeting.