Lake Street analyst Eric Martinuzzi lowered the firm’s price target on Universal Technical to $10 from $12 and keeps a Buy rating on the shares after the company reported Q4 results. He had been expecting Concorde – which the company completed its acquisition of on December 1 – to be additive to his prior, legacy Universal Technical AEBITDA forecast, but it now appears that "the incremental profits from Concorde are filling the profit weakness in the legacy UTI operations," Martinuzzi tells investors.
Published first on TheFly
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