FINWIRES · TerminalLIVE
FINWIRES

Research Alert: CFRA Maintains Buy Opinion On Adss Of Bilibili Inc.

By

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We cut our 12-month target price for Bilibili to USD25 from USD31, based on a 2026 P/revenue multiple of 2.19x. This represents a +1 standard deviation premium against the three-year average valuation, justified by the company's profitability inflection, with 15 consecutive quarters of margin expansion and sustained net profit achievement. AI-driven improvements in user engagement and advertising efficiency are creating a compounding growth flywheel, while the strong balance sheet provides flexibility for strategic investments. Bilibili's Q1 2026 results showed strong momentum, with revenue up 7% Y/Y to CNY7.47B, led by 30% advertising growth. Daily active users reached 115.2M (+8% Y/Y), with daily engagement hitting 119 minutes. We cut our 2026 EPADS forecast to CNY6.82 (from CNY7.99 ) and 2027 EPADS to CNY8.79 (from CNY8.99). This is due to a slower-than-expected mobile games recovery and higher R&D spending on AI initiatives, partially offset by stronger advertising momentum.

Related Articles

Research

Maybank Securities Upgrades Thai Beverage Public Company to Buy from Hold, Adjusts Price Target to SG$0.48 from SG$0.43

Thai Beverage Public Company (SGX:Y92) has an average rating of overweight and mean price target of SG$0.53, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

SGX:Y92
Research

Research Alert: Toll Brothers Beats Q2 Estimates But Guides Q3 Below Expectations

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Toll Brothers' Q2 revenue of $2.51B (-7% Y/Y) beat guidance and consensus, delivering 2,491 homes (-14% units) at ~$1,009k ASP (+8% Y/Y). EPS of $2.72 beat $2.59 consensus, driven by stronger-than-guided adjusted gross margin of 26.2% and favorable home mix. Strong operational execution demonstrated pricing power and cost control, though inventory impairments surged to $32.5M from $9.8M prior year. Q3 guidance fell short of consensus due to pull-forward of closings into Q2, but management raised full-year guidance across all metrics. Net orders grew 8% to $2.81B with backlog ASP rising to $1,171.8k, indicating higher-quality pipeline. However, sales pace per community declined Y/Y and spring selling season momentum of +23% sequential order growth fell short of typical +55% advance. We believe the Q3 shortfall reflects timing rather than fundamental weakness, though inventory impairments and moderated sales pace warrant monitoring in a challenging market environment.

$TOL
Research

Research Alert: CFRA Maintains Hold Opinion On Shares Of Under Armour Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month price target by $1 to $6, based on 17.1x our FY 28 (Mar.) EPS estimate and well below the company's three-year average forward P/E multiple of 31.4x. We lower our FY 27 EPS estimate by $0.30 to $0.15 and initiate our FY 28 EPS estimate at $0.35. UAA's revenue declined 0.8% to $1.17B, in line with consensus estimates (down 4.2% in constant currency), as a 7% decline in North America was partially offset by 10% international growth. The company posted adjusted diluted loss per share of $0.03 compared to a loss per share of $0.08 in the year prior and in line with consensus estimates. Gross margin compression of 470 bps to 42.0% represented the most significant headwind, primarily attributable to elevated tariff costs, along with pricing pressures, higher product costs, and unfavorable regional mix. This more than offset benefits from disciplined expense management, as SG&A declined 15% to $518M, reflecting lower marketing spend due to timing shifts and reduced compensation.

$UAA