HP Inc (HPQ) shares are soaring 5.39% in pre-market trading on Thursday, following the company's strong third-quarter earnings report and positive analyst reactions. The PC maker's stock is gaining momentum as it capitalizes on the growing demand for artificial intelligence-powered products.

HP reported better-than-expected revenue for its third quarter, driven by increasing interest in AI-enabled personal computers. The company's quarterly revenue rose about 3% to $13.93 billion, surpassing analysts' average estimate of $13.70 billion. This performance, coupled with solid demand for AI-powered products, has caught the attention of Wall Street analysts.

In response to HP's earnings, several analysts have raised their price targets for the stock. JP Morgan increased its target price to $30 from $27, maintaining an "overweight" rating. The firm believes HP's Personal Systems segment is favorably positioned and expects it to be a key driver of the company's recovery. Similarly, UBS raised its target price to $29 from $26, reflecting growing confidence in HP's future prospects.