Tencent Technology News According to foreign media reports, Wall Street investment bank KeyBANC released an investment research report today, raising the Vipshop stock (NYSE: VIPS) rating from “on par with the market” to “increase holdings”, setting the target stock price at $10.

KeyBANC analyst Hans Chung (Hans Chung) said in the report that Vipshop's sales have increased, mainly due to its focus on service business, product discounts, and direct promotion through lower pricing. Hans Chang anticipates that the shift in business portfolio to clothing will help increase Vipshop's gross profit margin.

Furthermore, Hans Chang also believes that inventory levels in the apparel industry have continued to deteriorate since the second half of 2018, which is a favorable trend for Vipshop. Hans Chang believes that Vipshop's strength in product sales and popularity in the low-cost retail sector will benefit it in the inventory removal cycle.

Yesterday, Vipshop shares closed at $6.46, down 5.97%. It was reported at $6.80 in pre-market trading today, up 5.10%. Over the past 52 weeks, Vipshop's share price was as low as $4.31 and the highest was $19.14.