UPDATE: Piper Jaffray Color on Universal Technical Institute PT Increase

Piper Jaffray, which raised its PT on shares of Universal Technical Institute Inc. UTI, is providing some color on the stock. “Following the Department of Education's release of its final Gainful Employment rules, meaningful regulatory clarity in the for-profit post-secondary education sector has been achieved,” Piper Jaffray writes. “With reduced regulatory uncertainty and less imposing regulatory requirements than feared, we are raising our price target on Universal Technical Institute from $17 to $18.” Universal Technical Institute closed Friday at $18.82.