Universal Logistics downgraded to Hold from Buy at Stifel

Stifel downgraded Universal Logistics to Hold from Buy with a price target of $46, up from $36. The firm says that while there’s room for an upward re-rating of the shares, it will likely take a cycle recovery. As such, the analyst recommends taking profits in Universal Logistics shares following the Q1 beat. Stifel cites valuation for the downgrade.