Vipshop initiated with an Overweight at Barclays

Barclays analyst Jiong Shao initiated coverage of Vipshop (VIPS) with an Overweight rating and $19 price target The company’s focused branded sales model differentiates it in the competitive Chinese e-commerce market, the analyst tells investors in a research note. The firm says Vipshop’s “consistent and meaningful” capital return program “on top of an attractive valuation provide downside protection.”