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Fly News Breaks for June 4, 2019
IQ
Jun 4, 2019 | 08:52 EDT
As previously reported, Loop Capital analyst Rob Sanderson initiated iQIYI with a Hold rating and a price target of $20. The analyst is positive on the company's market leading position for streaming video in China, but also sees the stock as "fairly valued" based on his assumed 11% long-term net margin. Sanderson adds that the implied 21% annual return in his valuation framework is "not enough to justify the risk profile in a rapidly evolving market", noting that the average revenue per user expansion will take time to unfold.
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