Ouster Inc.'s stock price surged 5.04% during intraday trading on Wednesday, following positive analyst actions reported in the pre-market session.

The significant price increase appears to be driven by Rosenblatt Securities raising its price target on Ouster Inc. to $53 from $40 while maintaining a Buy rating on the stock. Such an upward revision in analyst targets typically signals increased confidence in the company's future financial performance and growth prospects, often leading to positive investor sentiment and buying activity.