Stifel Cuts Price Target on Vipshop Holdings (VIPS) to $18 Following 1Q Report

Stifel maintained a Buy rating on Vipshop Holdings (NYSE: VIPS), and cut the price target to $18.00 (from $21.00), following the company's 1Q earnings report. Revenues grew 41% to US$1.89 billion / RMB12.17 billion. Diluted non-GAAP EPS climbed 23% to US$0.16 / RMB1.04.

Analyst George Askew commented, "Vipshop reported 1Q16 RMB revenue growth of 41% which was fractionally shy of expectations, and provided 2Q16 RMB revenue guidance of up 37% to 42% which at the top end is fractionally below consensus. Overall growth is slowing faster than expected in our view, which is undermining the stock in recent quarters and pre-market trading. Management is hosting a conference call with investors on Wednesday, May 18, 2016 at 8am ET to discuss the results."

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 $12.31 yesterday.

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