Shares of Nicolet Bankshares Inc. (NIC) surged 5.04% in Wednesday's intraday trading, following a positive analyst action and growing anticipation for the company's upcoming earnings report.

Piper Sandler, a prominent financial services firm, raised its target price for Nicolet Bankshares from $122.5 to $140, signaling increased confidence in the bank's future performance. This upgrade comes as the company prepares to release its second-quarter earnings results, with analysts expecting earnings per share of $2.18.

The combination of the higher price target and optimistic earnings expectations appears to be driving investor enthusiasm. Market participants seem to be positioning themselves ahead of the earnings announcement, betting on a strong financial performance from Nicolet Bankshares. As always, investors are advised to conduct their own research and consider their risk tolerance before making investment decisions.