Vipshop upgraded to Buy at Nomura on ‘appealing yield’

As previously reported, Nomura upgraded Vipshop (VIPS) to Buy from Neutral with a price target of $22, up from $18.50. The firm says its upgrade is driven by Vipshop’s “stable” earnings and cashflow outlook, adding that its high yield, currently at about 10% based on the firm’s calculation for 2026, offers “a good alternative for investors wanting to hedge market volatility.” Following a Q4 beat, the firm raised its FY26 and FY27 non-GAAP EPS forecasts by 3% each, the analyst noted.