Universal Technical Institute: Strong Long-Term Growth Potential Despite Near-Term Earnings ImpactWe expect continued strong enrollment and revenue performance going forward and significantly higher margins and earnings in FY/28 and FY/29. As such, we are maintaining our OUTPERFORM rating and our 12-month price target of $36, representing nearly 50% upside from current levels. Opinion OUTPERFORM (12 mo) $36 48% LT EPS Cap (mil) $1,324 Enterprise Value (mil) $1,239 Shares Outstanding (mil) 54.4 Volume 638,262 Financial / Equity (LTM) 19% LT Paris, CFA (312) 634-6352 ($mil) (est. In Adjusted EBITDA (est.