CLSA analyst Elinor Leung raised iQIYI's price target to $23.50 from $19 while reiterating an Underperform rating on the shares. The company's subscription growth may improve in Q4 but advertising growth will "stay modest" in 2020, Leung tells investors in a pre-earnings research note.
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Bullish option flow detected in iQiyi with 18,185 calls trading, 1.1x expected, and implied vol increasing almost 25 points to 102.72%. 4/30 weekly 20 calls and Apr-21 17 calls are the most active options, with total volume in those strikes near 8,400 contracts. The Put/Call Ratio is 0.22. Earnings are expected on May 13th.