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.
Latest Ratings for VIPS
|Aug 2016||JP Morgan||Assumes||Neutral|
|Aug 2016||Deutsche Bank||Downgrades||Buy||Hold|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.