Advertisement
UK markets open in 2 hours 43 minutes

  • NIKKEI 225

    38,415.29
    +863.13 (+2.30%)
     

  • HANG SENG

    17,110.21
    +281.28 (+1.67%)
     

  • CRUDE OIL

    83.45
    +0.09 (+0.11%)
     

  • GOLD FUTURES

    2,342.60
    +0.50 (+0.02%)
     

  • DOW

    38,503.69
    +263.71 (+0.69%)
     

  • Bitcoin GBP

    53,530.50
    +54.03 (+0.10%)
     

  • CMC Crypto 200

    1,434.61
    +19.85 (+1.40%)
     

  • NASDAQ Composite

    15,696.64
    +245.33 (+1.59%)
     

  • UK FTSE All Share

    4,378.75
    +16.15 (+0.37%)
     
Money:

What is the true cost of the UK state pension?

To get a sense of the true value of the state pension, you can look at how much you would need to save to match it yourself

Why Vipshop Stock Jumped Today

Daniel Sparks, The Motley Fool
Updated

What happened

Shares of Chinese online discount retailer Vipshop Holdings (NYSE: VIPS) popped on Wednesday, rising as much as 13.5%. By market close, the stock was up 9.6%.

The stock's rise was probably primarily driven by an analyst upgrade for the stock, as the analyst named Vipshop one of his top stock picks.

A chart showing a stock price moving higher
A chart showing a stock price moving higher

Image source: Getty Images.

So what

KeyBanc analyst Hans Chung gave Vipshop stock an "overweight" rating, up one sector-weight rating. In addition, the analyst gave the stock a $10 12-month price target, representing 41% upside from where the stock finished the trading day on Wednesday. To support his increased bullishness on the stock, Chung cited Vipshop's improving sales.

ADVERTISEMENT

Vipshop announced higher-than-expected sales in its third quarter. The company's total revenue for the period was up 16.4% year over year.

Now what

For its fourth quarter, more double-digit sales growth is likely. The company guided for fourth-quarter revenue to rise 8% to 13% year over year.

More From The Motley Fool

Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.