Shares of Bank First National Corporation (BFC) are soaring in early trading on Wednesday, climbing 6.36% as investors react to a positive analyst action. The stock's significant uptick comes as the broader market opens, reflecting strong investor enthusiasm for the regional banking institution.

The catalyst for this impressive rally appears to be a target price upgrade from Hovde Group. The financial services-focused research firm has raised its price target on Bank First Corp to $150 from the previous $145. This upward revision, announced before the market opened, suggests increased confidence in the bank's future performance and growth prospects.

Analyst upgrades often serve as powerful drivers for stock movements, as they can influence investor sentiment and trading decisions. For Bank First National Corporation, this target price increase may signal expectations of stronger financial results, improved operational efficiency, or potential market share gains in its operating regions. As the trading day progresses, investors will be watching closely to see if the stock can maintain its early momentum and if other analysts follow suit with similar upgrades.