Shares of Indie Semiconductor Inc. (INDI) soared 6% in after-hours trading on Monday, following a bullish move by UBS analysts earlier in the day. The surge comes as investors react to UBS's decision to raise its price target for the semiconductor company from $4.5 to $5, signaling increased confidence in Indie's growth prospects.

The revised price target represents a vote of confidence in Indie Semiconductor's business model and future potential. UBS's more optimistic stance could be attributed to factors such as Indie's market position, product pipeline, or improved financial outlook, although specific reasons for the upgrade were not immediately available.

This after-hours rally underscores the impact of analyst opinions on investor sentiment, particularly for smaller, growth-oriented companies in the competitive semiconductor space. As the market digests this new information, it will be interesting to see if Indie Semiconductor can maintain this momentum in regular trading sessions and potentially reach UBS's new target price.