UPDATE: KeyBanc Upgrades (IQ) to Overweight
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(Updated - February 23, 2021 4:39 AM EST)
KeyBanc analyst Hans Chung upgraded (NASDAQ: IQ) from Sector Weight to Overweight with a price target of $30.00.
The analyst comments "We upgrade IQ to Overweight as we anticipate originality and diversification of content to achieve the level that could fully differentiate itself from the competition after multi-years investment in original content, which could drive higher retention and stronger pricing power. As a result of potentially better churns and concurrently flat growth in content cost, we expect much improvement in profitability and FCF in the MT. We are raising estimates and
assume a $30 PT."
Shares of closed at $24.72 yesterday.
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