Vipshop price target lowered to $17 from $18 at Citi

Citi lowered the firm’s price target on Vipshop (VIPS) to $17 from $18 and keeps a Buy rating on the shares. The company’s Q3 was relatively in-line and Q4 revenue is guided to down 5% to down 10% year-over-year despite decent traction during Singles Day, as management sounded cautious on winter weather likely being warmer this year and a tougher comp from last year, the analyst tells investors in a research note. Citi cites Vipshop’s stable margins and “generous” capital return policy for its Buy rating.