UPDATE: Piper Jaffray Raises PT to $15 on Vipshop on Revenue Beat, Guidance

Piper Jaffray reiterated its Overweight rating on Vipshop

and raised its price target from $9 to $15. Piper Jaffray noted, "Vipshop reported strong September quarter results: revenue was $156m vs. the Street at $147m, and EPS was ($0.03) compared with the Street's estimate of ($0.07). Revenue upside was driven by active user growth (174% y/y) and total orders (158% y/y). … We are increasing our revenue estimate to be in line with guidance, while our EPS estimate increases to ($0.01) from ($0.06) to reflect better revenues and improved margins." Vipshop closed at $11.33 on Wednesday.