JPMorgan Reiterates Overweight Rating on Vipshop Holdings (VIPS)

JPMorgan analyst Andre Chang reiterated an Overweight rating and $17.00 price target on Vipshop Holdings (NYSE: VIPS).

The analyst comments "Vipshop’s (VIPS) share price has rebounded 20% since it released disappointing 3Q24 guidance in late August, outperforming KWEB’s +10%, thanks to its share repurchase in our view. We don’t expect a major surprise from the already low expectation on 3Q24 numbers except for one-off non-operating items, but it’s still hard to have visibility on its growth outlook in the next 2-3 quarters given the headwinds on discretionary spending. Yet we maintain OW rating as 5x 2025E P/E on JPMe leaves little downside for the current share price. We expect its share price to be supported with 10%+ annualized shareholder return in 2H24/2025 with the upside mainly from market beta."

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 $13.84 yesterday.

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