Vipshop Holdings (VIPS) PT Raised to $18.50 at Jefferies

Jefferies analyst Thomas Chong raised the price target on Vipshop Holdings (NYSE: VIPS) to $18.50 (from $17.70) while maintaining a Buy rating.

The analyst comments "VIPS reported 2Q results with revenue and non-GAAP earnings in line with expectations. Mid-point of 3Q revenue guidance is 3% above expectations. During the quarter, No of active SVIP customers grew at 15% YoY and contributes about 52% of online sales. In 3Q, we expect GMV growth to maintain positive YoY momentum and no of active customers returns to positive growth. We maintain our full year assumptions largely unchanged. Maintain Buy."

You May Also Be Interested In

• Jefferies upgrades Five Below to Buy, sees path to TJX-like re-rating
• Freedom Broker Downgrades Holley (HLLY) to Hold
• Cisco (CSCO) PT Raised to $135 at KeyBanc