01:20 PM EDT, 07/30/2024 (MT Newswires) -- Centuri's ( CTRI ) long-term outlook remains positive but UBS analysts said they are cautious about its near-term earnings trajectory due to market challenges including slower utility customer spending, delayed or cancelled projects and a leadership in transition.

The analysts also noted that the utility infrastructure services company has missed its expectations for three straight quarters.

"We continue to believe the thematics support a positive outlook for CTRI, but we are cautious on the near-term trajectory for earnings growth as the company manages through several challenges," UBS said in a note to clients Monday.

The analysts also lowered their forecast for earnings before interest, taxes, depreciation, and amortization estimates for H2 of 2025 through H1 of 2026 to $293 million from $326 million.

The analysts downgraded their rating on Centuri's ( CTRI ) stock Tuesday to a neutral rating from buy, while also slashing their price target to $17 from $30.

Shares of Centuri ( CTRI ) were down 1.8% in recent trading.

Price: 15.44, Change: -0.28, Percent Change: -1.78