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. 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. 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. 10 stocks we like better than Vipshop HoldingsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.* David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Vipshop Holdings wasn't one of them! That's right -- they think these 10 stocks are even better buys. Click here to learn about these picks! *Stock Advisor returns as of November 14, 2018Daniel 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.