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Fly News Breaks for February 27, 2020
IQ
Feb 27, 2020 | 09:08 EDT
JPMorgan analyst Alex Yao last night upgraded iQIYI to Neutral from Underweight with a price target of $22, up from $13. While the analyst does not expect the COVID-19 trade to unwind in the near future, he believes iQIYI's share price momentum should pause on the negative impact on ads from the breakout. However, on a 12 month view, the upgrade to Neutral is predominately premised on improving cost structure as subscriber average revenue per user increases.
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