Citi lowered the firm’s price target on Vipshop to $20 from $25 and keeps a Buy rating on the shares after the company reported a “mixed” Q1. Major e-commerce platforms stepped up investment and spending in offering low-price strategy through heavy subsidies, but Vipshop, as a smaller player with goal to maintain profitability, “didn’t join the competition,” notes the analyst, who sees its soft guidance outlook as likely to persist in the second half.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VIPS:
- Vipshop Reports Profit Surge and Steady Revenue
- Options Volatility and Implied Earnings Moves Today, May 22, 2024
- VIPS Upcoming Earnings Report: What to Expect?
- Vipshop Holdings at a Crossroads: Profitability Challenges Amidst Rising Costs and Revenue Uncertainty
- Vipshop price target lowered to $19 from $22.90 at HSBC
