Deutsche Bank Downgrades Vipshop Holdings (VIPS) to Hold

August 17, 2016 8:39 AM EDT
Get Alerts VIPS Hot Sheet
Price: $10.75 +1.61%

Rating Summary:
    11 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 3
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Deutsche Bank downgraded Vipshop Holdings (NYSE: VIPS) from Buy to Hold with a price target of $16.90 (from $16.60). Analyst Alan Hellawell believes shares are approaching fair value.

"Vipshop 2Q delivered a 7% beat on rev and in-line non-GAAP net income. Even a similar beat on 3Q guidance of 37%-43% would imply YoY slowing over 2Q, despite comparing against a weak 3Q 2015. A continued focus on younger customers will further pressure ARPU. Vipshop has surged 44% since delivering a message of renewed confidence at our June 30th conference (Nasdaq +8%.) We move to the sidelines as the shares approach fair value. Evidence of new growth initiatives would sustain a re-rating. We maintain our valuation at 0.8X PEG, raise TP by 1.8% and downgrade Vipshop to Hold," said Hellawell.

For an analyst ratings summary and ratings history on Vipshop Holdings click here. For more ratings news on Vipshop Holdings click here.

Shares of Vipshop Holdings closed at $16.07 yesterday.

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