Exponent price target lowered to $82 from $91 at UBS

UBS lowered the firm’s price target on Exponent to $82 from $91 and keeps a Neutral rating on the shares. The firm notes shares were down on Friday as the company’s 2024 guidance reset expectations lower with possible revenue decline and lower EBITDA margins. For a business that has proved relatively resilient, this was a “surprise,” and time will be needed to calibrate longer term expectations even as near-term estimates are reset, UBS said in a research note on Friday. With the stock moving down roughly in line with estimates, the firm continues to see a balanced risk/reward, and remains patient until better visibility emerges.