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3 Reasons To Buy Iqiyi – The 'Netflix Of China' – According To Jefferies
Streaming video provider Iqiyi Inc (NASDAQ: IQ), dubbed by some as being the “Netflix, Inc. (NASDAQ: NFLX) of China,” offers investors a potential upside of nearly 30 percent, according to Jefferies.
Jefferies’ Karen Chan initiated coverage of Iqiyi with a Buy rating and $33 price target.
The bullish case for Iqiyi is based on three factors, Chan said in the initiation note. (See her track record here.)
The online video space in China remains undermonetized, which is positive for a company that holds a leadership position with 565 million mobile monthly active users (67 million paying users) and the highest time spent share at 42 percent, the analyst …
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