Shares of Pediatrix Medical Group (MD) are soaring 5% in pre-market trading on Tuesday, following a series of analyst upgrades that have boosted investor confidence in the company's prospects.

Deutsche Bank has significantly raised its price target for Pediatrix Medical from $13 to $21, while maintaining a Hold rating on the stock. Similarly, Leerink Partners has increased its target price from $17 to $21. These upgrades reflect growing optimism about the company's future performance and potential for growth.

Adding to the positive sentiment, recent data from FactSet reveals that Pediatrix Medical currently has an average rating of overweight among analysts, with a mean price target of $19.25. This bullish outlook from Wall Street experts appears to be driving the stock's upward movement, as investors react to the improved growth projections and increased valuation estimates for the company.