Form SC 13D/A iQIYI, Inc. Filed by: Pacific Alliance Group Ltd
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CFRA Downgrades iQIYI (IQ) to Hold, 'weak topline will drag margin lower in 2024 before improving in 2025'
August 26, 2024 11:42 AM EDTCFRA analyst Siti Salikin downgraded iQIYI (NASDAQ: IQ) from Buy to Hold with a price target of $2.50 (from $6.50).
The analyst comments "We cut 2024/2025 EPADS forecasts to CNY1.60/CNY2.70 (CNY2.71/CNY3.34) and target price to USD2.50 (from USD6.50), an implied 2024 P/E of 11.2x (3-year: 23.7x),... More
