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Posted by
Two Blokes May 25, 2025 -
Filed in
Stock
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6 views
Reiterate SELL rating on VIPS, targeting $13/share, due to stagnating GMV growth, declining users, and weak guidance. VIPS faces intense competition from Alibaba, JD, and PDD, resulting in user churn and eroding its discount apparel niche. While share buybacks and dividends offer some support, we view VIPS as a value trap given deteriorating fundamentals.
