HSBC Downgrades iQIYI to Reduce, Lowers Price Target to $3
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Charlene Liu has downgraded iQIYI (NASDAQ:IQ) from Hold to Reduce and lowered the price target from $4.7 to $3.
July 23, 2024 | 10:29 am
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HSBC analyst Charlene Liu downgraded iQIYI from Hold to Reduce and lowered the price target from $4.7 to $3, indicating a negative outlook on the stock.
The downgrade from Hold to Reduce and the significant lowering of the price target from $4.7 to $3 by HSBC suggests a negative outlook on iQIYI's stock performance. This is likely to result in a short-term decline in the stock price as investors react to the downgrade.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100