Universal Logistics price target lowered to $29 from $37 at Stifel

Stifel analyst J. Bruce Chan lowered the firm’s price target on Universal Logistics (ULH) to $29 from $37 and keeps a Hold rating on the shares following “another sizable earnings miss” in Q1. With pressure on OEMs, dwindling class 8 orders, and what’s likely to be slowing new contract activity, the firm sees “less opportunity, rather than more on the horizon,” the analyst tells investors.