Why Universal Technical Institute Stock Crushed it This Week
Yahoo Finance ·
Universal Technical Institute ( UTI +2.60% ) stock barreled into July on a high note. The educational services company announced an important managerial appointment, and was the subject of a bullish new analyst move. Across the holiday-shortened week, its stock rose by nearly 18%, according to data compiled by S&P Global Market Intelligence . Just before said week kicked into gear, Truist Securities pundit Jasper Bibb significantly raised his price target on UTI's shares Monday morning. He now feels they are worth $47 apiece, nearly 20% over his previous fair value assessment of $40. In making the change, he kept his buy recommendation intact. Bibb noted several positive factors for UTI in his update, according to reports. Basing his new take on an investor call with company COO Todd Hitchcock, the analyst wrote that changes in the labor market from the proliferation of artificial intelligence (AI) functionalities should benefit UTI (AI is set to displace white-collar workers, but not those who labor in many of the trades the company provides training for). The analyst also pointed to UTI's recent expansion efforts, with two new campuses in its lineup. The first, located in San Antonio, Texas, concentrates on blue-collar skills and opened in late March. The other, Concorde-Glendale in Arizona (managed by its Concorde Career Colleges unit), focuses on healthcare and medical training and should open next year.
DYAX Investor Sentiment
Bullish (Long) 53% · Bearish (Short) 47%
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