Universal Technical transferred with Buy rating at B. Riley

B. Riley kept a Buy rating on Universal Technical (UTI) with a $31 price target following a transfer of coverage. The firm is “broadly optimistic” on the for-profit, career-focused education space, expecting sustainable student start growth trends over the next two years amid a transformation in the U.S. education landscape. Enrollment in traditional four-year degree programs has declined in recent years as more students are turning to career-oriented alternatives like trade schools and vocational programs, given rising demand for skilled labor and lower costs, the analyst tells investors in a research note.