Universal Technical price target lowered to $10 from $14 at Barrington

Barrington analyst Alexander Paris lowered the firm’s price target on Universal Technical Institute to $10 from $14 and keeps an Outperform rating on the shares post the fiscal Q4 results. While fiscal 2023 will be a transition year as management integrates the Concorde acquisition, the company is setting up for a "strong performance" in fiscal 2024 and beyond, Paris tells investors in a research note.