Vipshop price target lowered to $14 from $16 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Vipshop to $14 from $16 and keeps an Equal Weight rating on the shares. Vipshop’s guidance of a 5%-10% year over year revenue decline for the third quarter suggests that weak consumption and more intense competition remain headwinds and would be unfavorable for the company’s growth and margins outlook in Q4 amid accelerating consolidation in China’s e-Commerce segment, the analyst tells investors in a research note.