UBS analyst Wei Xiong raised the firm’s price target on Vipshop to $20 from $18.50 and keeps a Buy rating on the shares. The analyst believes Vipshop’s revenue growth for Q2 and 2023 should at least meet market expectations, given the recent positive data from industry and 618. NBS data suggests apparel sales continue to outgrow the retail industry, the analyst tells investors in a research note. The firm says solid revenue recovery and cost controls could continue to drive earnings upside for Vipshop.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on VIPS: