Shares of Universal Technical Institute (UTI) are soaring 5.07% in Friday's intraday trading session, following a positive analyst update from Truist Securities. The education services provider's stock is attracting investor attention amid renewed optimism about its growth prospects.

Truist Securities has raised its price target on Universal Technical Institute to $37 from $32, while maintaining a Buy rating on the stock. This significant increase in the price target suggests that the analyst firm sees substantial upside potential for UTI shares. The new target represents a considerable premium to the stock's current trading price, potentially driving the observed surge in investor interest.

The analyst's bullish stance is further supported by the broader market sentiment towards Universal Technical Institute. According to FactSet, the company has an average rating of Buy among analysts, with a mean price target of $35.33. This consensus view indicates that Wall Street generally holds a positive outlook on UTI's future performance, which may be contributing to the stock's impressive gains today. As investors digest this latest analyst update, Universal Technical Institute's shares could continue to see increased trading activity in the near term.