UFP Technologies price target lowered to $252 from $392 at Lake Street

Lake Street analyst Jaeson Schmidt lowered the firm’s price target on UFP Technologies (UFPT) to $252 from $392 and keeps a Buy rating on the shares. UFP reported revenue, AEBITDA, and EPS above estimates for the fifth consecutive quarter and “continued to show impressive earnings outperformance,” the analyst tells investors. While “impressed with the strong results given the challenging backdrop,” the firm is lowering its price target to reflect the broader multiple compression in the market.