Shares of Chinese e-commerce retailer Vipshop Holdings Ltd. (VIPS) surged over 5% on Thursday morning, fueled by a bullish analyst call and expectations of strong revenue growth in the upcoming quarter.
Citi analysts raised their price target on Vipshop to $18 from $15, citing anticipated revenue growth in the third quarter. The firm maintained its Buy rating on the stock, reflecting confidence in the company's long-term prospects.
According to Citi analyst Alicia Yap, Vipshop's revenue is expected to grow in Q3 despite short-term weakness, driven by the company's robust online platform and effective marketing strategies. Yap's analysis points to a positive long-term outlook for the e-commerce giant, underpinning the firm's bullish stance on the stock.
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