UPDATE: Morgan Stanley Initiates Coverage On Vipshop On Fast Growth And Steady Margin

In a report published Wednesday, Morgan Stanley analyst Robert Lin initiated coverage on

with an Overweight rating and $259.00 price target. In the report, Morgan Stanley noted, “In our view, an established reputation and strong supply chain management capabilities position Vipshop well to benefit from the rapidly growing online flash sales market in China. We expect Vipshop's marketing and big data investments to foster strong new active customer growth and enhance customer experience. Mobile leadership with 46% revenue contribution. Stronger-than-peer growth profile and better earnings visibility.” Vipshop Holdings Ltd closed on Tuesday at $218.02.