Macquarie 'Increasingly Bullish' On Vipshop's Outlook
Earlier Tuesday, Macquarie Group reiterated its Outperform rating on Vipshop (NYSE: VIPS) and raised the price target to $130 from $90.
In justifying such a large adjustment to its price target, Macquarie notes that data indicates Vishop has been "enjoying strong user base expansion" over the past few months.
In a contrasting view, Whitney Tilson said in a letter on Monday that he is short Vipshop.
Possibly trading on the release of the Macquarie note, Vipshop was up as much as 10 percent for the day.
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