Shares of 21vianet (VNET) soared 5.03% on Monday, following an upgrade from Goldman Sachs that boosted investor sentiment in the Chinese data center services provider.

Goldman Sachs analysts raised their rating on VNET to "Buy" from "Neutral" and set a price target of $5 per share. This price target implies a potential upside of around 25% from the stock's current trading levels.

The investment bank's positive view on VNET highlights the company's strong growth prospects in China's rapidly expanding cloud computing market. As businesses increasingly shift their IT infrastructure to the cloud, demand for VNET's data center services is expected to surge in the coming years.