Jefferies Group upgraded shares of UTi Worldwide (NASDAQ: UTIW) from a hold rating to a buy rating in a report issued on Wednesday. They currently have $18.00 target price on the stock, up from their previous target price of $14.00.
“We’re upgrading UTIW to Buy, a deeply out of favor name with restructuring benefits that should start to materialize by early calendar 2014. While visibility is likely to remain low for several more quarters, a potential double over two years is compelling enough to initiate starter positions. We’d add capital as visibility gradually improves, whether from restructuring or restocking.,” the firm’s analyst commented.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of UTi Worldwide from an underperform rating to a neutral rating in a research note to investors on Tuesday, December 18th. They now have a $13.40 price target on the stock. Separately, analysts at Stifel Nicolaus cut their price target on shares of UTi Worldwide to $16.00 in a research note to investors on Friday, December 7th. Finally, analysts at FBR Capital cut their price target on shares of UTi Worldwide from $14.00 to $12.50 in a research note to investors on Friday, December 7th. They now have a market perform rating on the stock.
Five investment analysts have rated the stock with a buy rating, one has assigned an overweight rating, and eleven have given a hold rating to the company’s stock. UTi Worldwide presently has an average rating of overweight and an average target price of $19.22.
UTi Worldwide traded up 0.65% on Wednesday, hitting $15.56. UTi Worldwide has a 52-week low of $12.31 and a 52-week high of $17.92. The stock’s 50-day moving average is currently $14.41. The company has a market cap of $1.615 billion and a price-to-earnings ratio of 29.22.
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