Vipshop (NYSE:VIPS) Upgrade
In an analyst note issued to investors and clients on Wednesday morning, HSBC stated it was upgrading Vipshop (NYSE:VIPS) stock from a “Reduce” to a “Hold”.
The stock upgrade is well-received by investors, as NYSE:VIPS is currently trading 2.68% higher at $8.44 as of 12:03 PM New York time. Vipshop’s stock is 0% over the last 200 days. It has underperformed the Standard & Poor’s 500 index, which has increased 6.00% over the same time period.
According to data compiled by Thomson Reuters, Vipshop (NYSE:VIPS)’s stock is covered by 21 equity analysts across the Street, with 0 analysts giving it a Sell rating, 16 a Buy rating, while 5 consider it a Hold. The 12-month consensus target price for the stock is $17.18, which reflects an upside potential of 103.55% over the current price.
Vipshop (NYSE:VIPS) Profile
Vipshop Holdings Limited is a holding company. The Company is an online discount retailer for brands in China. The Company offers branded products to consumers in China through flash sales mainly on its vip.com Website.
Vipshop (NYSE:VIPS) traded up 2.68% on 3 January, hitting $8.44. A total of 13.67 million shares of the company’s stock traded hands. This is up from average of 6.97 million shares. Vipshop has a 52 week low of $7.79 and a 52 week high of $15.49. The company has a market cap of $4.98 billion and a P/E ratio of 17.57.
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