Universal Logistics price target lowered to $35 from $36 at Stifel

Stifel lowered the firm’s price target on Universal Logistics to $35 from $36 and keeps a Hold rating on the shares. Universal Logistics reported Q2 earnings results that were shy of Stifel’s estimates on softer-than-expected consolidated revenues, and while Universal’s core business is a winner, the company either needs to grow and improve the remaining businesses, or sell them and focus on Contract Logistics, the analyst tells investors in a research note.