Will Vipshop Stock Win Again in 2023?
We're nearly a decade removed from the glory days of Vipshop Holdings (NYSE: VIPS), but a couple of analysts are feeling better about the stock after the fourth-quarter report it delivered Thursday. The Chinese online discounter of brand-name apparel and accessories beat expectations, even if its numbers may not seem all that impressive on their own.
Investment group CLSA boosted its rating on Vipshop from outperform to buy, encouraged by the quarterly beat and signs of recovering demand. In a climate of global inflation and an iffy economy in which shoppers are more focused on looking for bargains, Vipshop -- with its low prices and access to cheap supply -- seems ripe to succeed. CLSA's analyst lifted his price target on the shares from $11 to $17.
Meanwhile, UBS upgraded the e-commerce player from neutral to buy on the earnings news. UBS has a price target of $17.50 on Vipshop. Based on those firms' new price targets, the shares have a near-term upside of 25% to 28%.
Source Fool.com
