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Fly News Breaks for January 10, 2020
Jan 10, 2020 | 08:57 EDT
Morgan Stanley analyst Alex Poon downgraded Bilibili to Equal Weight from Overweight with a price target of $24, up from $19. The stock has rallied 73% since October and is now trading near the highest valuation among peers, noted Poon, who raised his revenue estimates by 8% and 10% for 2020 and 2021, respectively, but said the company's path to profitability "remains remote."
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