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Piper Jaffray reiterated its Overweight rating on Vipshop (NYSE: VIPS) 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.

Latest Ratings for VIPS

DateFirmActionFromTo
Nov 2014Morgan StanleyReiteratesOverweight
Nov 2014JP MorganMaintainsOverweight
Oct 2014Morgan StanleyInitiates Coverage onOverweight

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