Macquarie is 'Increasingly Bullish" on Vipshop's Outlook and has the Price Target to Match

Earlier today Macquarie Group reiterated its Outperform rating for Vipshop

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 this Monday he is short Vipshop. Possibly trading on the release of the Macquaire note, Vipshop was up as much as 10 percent for the day.