Jefferies Upgrades UTi Worldwide (UTIW) to Buy

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Jefferies upgraded UTi Worldwide (NASDAQ: UTIW) from Hold to Buy with a price target of $18.00 (from $14.00).

The firm comments, "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."

For an analyst ratings summary and ratings history on UTi Worldwide click here. For more ratings news on UTi Worldwide click here.

Shares of UTi Worldwide closed at $14.93 yesterday, with a 52 week range of $12.31-$17.92.

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