Keysight Technologies (KEYS) shares climbed 5.64% in pre-market trading on Wednesday, following the release of its fiscal second-quarter earnings report that exceeded Wall Street expectations. The electronic test equipment manufacturer's strong performance and positive analyst sentiment appear to be driving the stock's upward momentum.

Keysight reported earnings of $1.70 per share, excluding items, on revenue of $1.31 billion for the quarter. These results surpassed analysts' forecasts polled by LSEG, which had anticipated earnings of $1.65 per share and revenue of $1.28 billion. The company's ability to outperform expectations in a challenging market environment has bolstered investor confidence.

Adding to the positive sentiment, several analysts have reaffirmed their bullish stance on Keysight. Wells Fargo analyst Aaron Rakers maintained a Buy rating on the stock with a price target of $190. Similarly, Deutsche Bank raised its target price to $186 from $181, while Barclays' Tim Long also maintained a Buy rating. The average analyst rating for Keysight remains "overweight" with a mean price target of $185.55, according to FactSet data. These endorsements from Wall Street analysts underscore the company's strong market position and growth potential, further fueling the pre-market rally.