Vipshop upgraded to Buy by Deutsche Bank

|About: Vipshop Holdings (VIPS)|By:, SA News Editor

Deutsche Bank upgrades Vipshop (VIPS) to Buy from Hold and hikes its PT to $66.

Analyst Michael Tong notes that channel checks suggest a rebound in website traffic in July and Aug. from a June slowdown. He expects Vipshop to benefit from "its unique consignment model and improving fulfillment capabilities, which should solidify segment leadership."