Barrington raised the firm’s price target on Universal Technical (UTI) to $18 from $15 and keeps an Outperform rating on the shares following the company’s Q1 beat and FY24 guidance raise. After being up 17% year-to-date after gaining 86% in 2023, Universal is trading at a premium to its postsecondary education peer group average, but at a slight discount to its closest comp, Lincoln Educational Services (LINC), the analyst tells investors. Universal entered FY24 with significant momentum and the firm expects continued strong performance going forward, the analyst added.
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