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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why JP Morgan Upgraded iQIYI

IQ iQiyi JP Morgan
  • JP Morgan upgraded iQIYI Inc (NASDAQ:IQ) to Overweight, seeing multiple drivers improve margins this year after Q4 earnings.
  • The firm raised its price target to $8 from $5, implying a 61% upside.
  • "We expect further margin improvement in the next few quarters, driven by cost savings in content cost and opex, which should prove that iQiyi can operate as a self-sustaining business model and trigger further multiple rerating for its share price." 
  • Price Action: IQ shares traded lower by 1.59% at $4.95 on the last check Wednesday.
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