VTEX (NYSE: VTEX) stock is posting big gains in Wednesday's daily trading session. The company's share price was up 9.2% as of 2:45 p.m. ET, according to data from S&P Global Market Intelligence.

VTEX is gaining thanks to favorable coverage from an analyst. A UBS analyst published a note today upgrading his rating on the stock from "neutral" to "buy," and investors are excited about his view on the company.

UBS's Leonardo Olmos issued new overage on VTEX stock today, pushing the stock into the "buy" category and raising the company's price target on the stock. Olmos now expects its share price to hit $7.50 per share within the next 12 months, up from his previous one-year target of $4.70 per share. Even with today's gains, the analyst's price target implies potential upside of roughly 18%.

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Source Fool.com