Rogers Corporation (ROG) stock is soaring in pre-market trading on Thursday, jumping 9.27% following a significant target price upgrade from B. Riley. The financial services firm has raised its target price for Rogers from $85 to $105, signaling increased confidence in the company's future performance.

The substantial target price hike of nearly 24% has sparked investor enthusiasm, driving the stock's sharp upward movement. B. Riley's bullish stance on Rogers suggests that the firm sees potential for further growth and improved financial performance in the coming months.

While specific reasons for the target price increase were not immediately available, such upgrades are typically based on positive assessments of a company's business outlook, market position, or upcoming product launches. Investors are advised to watch for any additional analyst comments or company announcements that may provide further insight into Rogers' prospects.