Outfront Media (OUT) stock is soaring 5.18% in intraday trading on Tuesday, following a significant upgrade from TD Cowen. The upgrade has sparked investor interest and contributed to the substantial price increase for the outdoor advertising company.

TD Cowen has raised its rating on Outfront Media from Hold to Buy, demonstrating increased confidence in the company's prospects. Additionally, the financial services firm has substantially increased its price target for OUT stock from $18 to $24, suggesting potential for further upside. This new target represents a significant premium over the stock's previous closing price.

The market has responded positively to this analyst action, with Outfront Media shares showing strong momentum throughout the trading session. The stock began moving upward in pre-market trading, initially rising 2.3% following the upgrade announcement. As the regular trading session progressed, the upward movement intensified, reaching the current 5.18% gain. This price action reflects growing investor optimism about Outfront Media's future performance based on TD Cowen's bullish outlook.