Benchmark analyst Fawne Jiang lowered the firm’s price target on iQIYI to $9 from $10 and keeps a Buy rating on the shares after the company reported inline Q2 results and provided “on-par with expectation” Q3 guidance. Following the quarterly report, the firm left its FY23 revenue estimates unchanged, but is “tweaking down” its FY24 revenue projection moderately to “reflect our conservatism,” the analyst tells investors.
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Read More on IQ:
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- iQIYI Announces Second Quarter 2023 Financial Results
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