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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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