Vipshop price target raised to $18 from $15 at Citi

Citi raised the firm’s price target on Vipshop to $18 from $15 and keeps a Buy rating on the shares. The firm believes the company’s Q3 revenue will likely to come at the low-end of the company guidance range of down 5% to 10% amid soft demand in July through September. However, given China’s latest positive policy boost, the soft Q3 print is likely to be overshadowed by positive sentiment on improving consumption willingness following the regulatory supportive measure to boost consumer confidence, the analyst tells investors in a research note.