Paysafe Ltd (PSFE) shares are soaring 5.20% in pre-market trading on Friday, following a significant upgrade from Bank of America Securities. The financial services company's stock is gaining momentum after analysts at BofA Securities raised their rating from Underperform to Neutral, signaling a more optimistic outlook on the company's prospects.

The upgrade comes as part of a broader assessment of Paysafe's position in the market. According to data from FactSet, the average rating for Paysafe among analysts is currently "Hold," with a mean price target of $16.72. This collective stance suggests that while analysts see potential in the company, they are maintaining a cautious approach.

Investors are responding positively to this improved sentiment from a major financial institution. The upgrade from BofA Securities could potentially attract more investor interest and may lead to reassessments from other analysts. As the market digests this new information, traders will be closely watching Paysafe's performance throughout the trading day to see if the pre-market gains hold or extend further.