<div id="readability-page-1"><p>05:30 AM EST, 11/21/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:</p><p>We trim our  target price to USD1.90 (from USD2.00),  implying a 2026 P/E of 18.4x (vs. over 40x for its direct competitor Netflix and 31x for Bilibili), reflecting muted growth outlook, macroeconomic uncertainties, and regulatory headwinds. We  cut our EPADS forecast to CNY0.15 (from CNY0.38) for 2025 and to CNY0.74 (from CNY1.06) for 2026, following disappointing Q3 results. Revenue is projected to -2% in 2025 before a modest +1% recovery in 2026, constrained by weak content slates, tighter regulation on short dramas, and subdued ad spending in China. Cost-cutting initiatives will also constrain the release of premium content, weakening user engagement and advertising appeal, while intense competition with dominant players in China like Tencent Video and Kuaishou will hinder market share gains in the short drama market, in our view. Nevertheless, we expect a modest margin recovery into 2026, amid a gradual recovery in content slates  and AI initiatives, although the operating environment remains challenging.</p> <p>MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</p></div>

爱奇艺

<p>CFRA 对爱奇艺（Iqiyi Inc.）维持卖出评级，将目标价格下调至 1.90 美元，原因是增长乏力、宏观经济不确定性和监管挑战。由于第三季度业绩令人失望，EPADS 预测被下调，预计 2025 年收入将下降，2026 年将适度恢复。激烈的竞争和成本削减将影响内容质量和市场份额。尽管经营环境严峻，预计到 2026 年在人工智能举措的推动下，利润率将适度恢复</p>

Research Alert: CFRA Keeps Sell Opinion On Adss Of Iqiyi Inc.

- CFRA 将目标价下调至 1.90 美元，反映增长前景疲软。  
- 预计 2025 年每股收益降至 0.15 元，2026 年降至 0.74 元。  
- 收入在 2025 年预计下降 2%，2026 年小幅回升 1%。  

研究警报：CFRA 维持对爱奇艺公司美国存托凭证的卖出评级