Kimball Electronics (KE) stock is soaring 5.02% in Friday's trading session, building on its impressive 18% gain from the previous day. The continued upward momentum comes as analysts express confidence in the company following its better-than-expected quarterly financial results.

B. Riley has raised its price target for Kimball Electronics to $29.50 from $24, while maintaining a Buy rating on the stock. This adjustment reflects the firm's optimistic outlook on the company's future performance. Additionally, Lake Street has reaffirmed its Buy rating on Kimball Electronics, further bolstering investor confidence.

The positive analyst actions follow Kimball Electronics' strong quarterly earnings report released on Thursday, which triggered an initial 18% surge in the stock price. The company's ability to exceed market expectations has clearly resonated with both analysts and investors, driving the continued upward movement in the stock price. As the market digests these developments, Kimball Electronics appears well-positioned for potential further gains.