Barrington raised the firm’s price target on Universal Technical (UTI) to $35 from $30 and keeps an Outperform rating on the shares after the company reported Q1 results that were “significantly above expectations” and raised FY25 guidance. Noting that the stock more than doubled in 2024, the firm says it expects continued strong performance going forward, noting that Phase II of its North Star Strategy is expected to result in a five-year revenue compound annual growth rate of 10% and expanded adjusted EBITDA margins.
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