iQiyi price target lowered to $2.10 from $2.30 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on iQiyi (IQ) to $2.10 from $2.30 and keeps an Equal Weight rating on the shares. The firm expects Q4 total revenue to return to growth year-over-year and quarter-over-quarter due to improved pipeline performance, but it also expects higher content cost and operating expense in Q4 to weigh on margins, the analyst tells investors.