Is iQiyi Stock a Buy?
iQiyi's (NASDAQ: IQ) stock price tumbled 6% on Tuesday after UBS analyst Felix Liu downgraded the Chinese streaming video company's shares from "buy" to "neutral" and reduced his share price target from $18.50 to $9.50.
That downgrade wasn't surprising, since iQiyi had already lost more than 60% of its value over the past 12 months and was trading at just $9 a share before UBS withdrew its bullish recommendation.
But should investors still consider buying this beaten-down stock which trades at just 1.4 times this year's sales?
Source Fool.com
