Unity Software Inc. (NYSE: U) shares soared 6.64% in pre-market trading on Wednesday, following a significant target price upgrade from Jefferies. The investment bank raised its price target for Unity from $29 to $35, signaling increased confidence in the company's growth prospects.

Unity Software, known for its widely-used game development platform, has been gaining traction in various industries beyond gaming, including automotive, architecture, and film. The target price increase by Jefferies may reflect growing optimism about Unity's expanding market opportunities and its ability to monetize its technology across diverse sectors.

This analyst upgrade could potentially spark renewed investor interest in Unity Software. As the company continues to innovate and expand its reach, market participants will likely keep a close eye on Unity's financial performance and strategic initiatives in the coming quarters. However, investors should always conduct their own research and consider their risk tolerance before making investment decisions based on analyst recommendations.