Vipshop Reports Unaudited First Quarter 2023 Financial Results

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JPMorgan Upgrades Vipshop Holdings (VIPS) to Overweight, 'Best defensive play in ecommerce space on earnings visibility/upside

May 24, 2023 4:28 PM EDT

JPMorgan analyst Andre Chang upgraded Vipshop Holdings (NYSE: VIPS) from Neutral to Overweight with a price target of $18.00 (from $16.00).

The analyst comments "We believe Vipshop (VIPS) will be the best defensive play in the China ecommerce space in the next six months on earnings visibility/upside risks (JPMe 2023E/24E EPS 17%/18% above consensus), and the share price correction over the past... More