Shares of Baldwin Insurance Group (BWIN) surged 9.01% at the market open on Tuesday, following a series of bullish analyst updates.

The sharp move higher appears to be driven by positive sentiment from Wall Street analysts. Wells Fargo raised its price target on the company to $24 from $23. Separately, TD Cowen analyst Andrew Kligerman reiterated a Buy rating on the stock and set a price target of $37.00.