Fly News Breaks for February 11, 2020
Feb 11, 2020 | 08:12 EDT
Argus analyst David Coleman upgraded Universal Technical to Buy from Hold with a $12 price target, citing its "significant improvement" with two consecutive quarters of earnings beats following multiple quarters of losses. The analyst says the company is making progress in attracting new students and lowering costs, though it is still facing "stiff competition" from higher-rated schools like DeVry and Strayer. Coleman notes however that Universal Technical's swing to profitability has come during a period of low unemployment and solid economic growth - conditions typically challenging for the for-profit education sector.
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