<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>

愛奇藝

<p>CFRA 對愛奇藝（Iqiyi Inc.）維持賣出評級，將目標價格下調至 1.90 美元，原因是增長乏力、宏觀經濟不確定性和監管挑戰。由於第三季度業績令人失望，EPADS 預測被下調，預計 2025 年收入將下降，2026 年將適度恢復。激烈的競爭和成本削減將影響內容質量和市場份額。儘管經營環境嚴峻，預計到 2026 年在人工智能舉措的推動下，利潤率將適度恢復</p>

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

- CFRA 將目標價下調至 1.90 美元，反映增長前景疲軟。  
- 預計 2025 年每股收益降至 0.15 元，2026 年降至 0.74 元。  
- 收入在 2025 年預計下降 2%，2026 年小幅回升 1%。  

研究警報：CFRA 維持對愛奇藝公司美國存託憑證的賣出評級