Vipshop price target raised to $20 from $18.50 at UBS

UBS analyst Wei Xiong raised the firm’s price target on Vipshop to $20 from $18.50 and keeps a Buy rating on the shares. The analyst believes Vipshop’s revenue growth for Q2 and 2023 should at least meet market expectations, given the recent positive data from industry and 618. NBS data suggests apparel sales continue to outgrow the retail industry, the analyst tells investors in a research note. The firm says solid revenue recovery and cost controls could continue to drive earnings upside for Vipshop.