IQIYI shares are trading lower after HSBC downgraded the stock from Hold to Reduce and lowered its price target from $4.7 to $3. Also, JP Morgan lowered its price target from $5 to $3 on the stock.
Portfolio Pulse from Benzinga Newsdesk
IQIYI shares are trading lower after HSBC downgraded the stock from Hold to Reduce and lowered its price target from $4.7 to $3. Additionally, JP Morgan lowered its price target from $5 to $3.
July 23, 2024 | 3:53 pm
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IQIYI shares are trading lower due to downgrades from HSBC and JP Morgan. HSBC downgraded the stock from Hold to Reduce and lowered its price target from $4.7 to $3. JP Morgan also lowered its price target from $5 to $3.
The downgrades from two major financial institutions, HSBC and JP Morgan, are likely to negatively impact investor sentiment and lead to a short-term decline in IQIYI's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100