Shares of Verra Mobility Corporation (VRRM) are soaring 6.46% in pre-market trading on Thursday, following positive adjustments to price targets by major financial institutions. The stock's upward momentum appears to be fueled by growing optimism among analysts regarding the company's future prospects.

Leading the charge, UBS has raised its target price for Verra Mobility from $29 to $31, signaling increased confidence in the company's potential. This upgrade was complemented by Morgan Stanley's decision to lift its price target to $24 from $23, although maintaining an Equalweight rating on the stock. These adjustments from prominent financial firms have likely contributed to the surge in investor interest during early trading.

The latest analyst actions align with the overall positive sentiment surrounding Verra Mobility. According to data from FactSet, the company currently maintains an average "Buy" rating among analysts, with a mean price target of $30.17. This collective bullish outlook suggests that market experts see substantial upside potential for Verra Mobility, which may be driving the current stock price rally.