HP Inc's stock surged 5.04% during Thursday's trading session, extending gains from after-hours trading following the company's fiscal second-quarter earnings report.

The sharp rise came as multiple Wall Street firms raised their price targets on HP after the company reported better-than-expected quarterly results. UBS, TD Cowen, and Citi were among the firms that increased their targets, with UBS and TD Cowen raising to $26 from $20 and Citi increasing to $25 from $20.

Even firms with cautious ratings like Morgan Stanley and BofA lifted their price targets, signaling improved sentiment around the company's prospects despite ongoing concerns about margin pressures and market uncertainties. The collective analyst actions followed HP's earnings beat, which demonstrated stronger-than-anticipated performance in the quarter.