Vipshop price target raised to $29 from $19 at Benchmark

Benchmark raised the firm’s price target on Vipshop to $29 from $19 and keeps a Buy rating on the shares. The firm views Q4 as “an inflection quarter” for Vipshop to establish a higher market conviction on its earnings growth visibility and it anticipates more “Long Only conversion” following the quarterly report, the analyst tells investors. Besides its sizable share repurchase program, the company has announced an annual dividend policy increasing capital return to shareholders, notes the firm, which cites upward earnings revisions for its increased price target.