Vipshop price target raised to $18 from $16 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Vipshop to $18 from $16 and keeps an Equal Weight rating on the shares as part of a broader research note on China E-Commerce. The company has been able to maintain above-industry GMV, or gross merchandise volume, growth in Q1 to Q3, and the firm expects this to sustain into 2024 and 2025, supported by its “unique value preposition”, the analyst tells investors in a research note.