UBS raised its price target on Exponent (NASDAQ:EXPO) to $81 from $76 while maintaining a Neutral rating, following recent investor meetings with company management.

The analyst said management conveyed a more optimistic outlook, suggesting that a return to full-time equivalent employee growth could position Exponent for an improved revenue trajectory in 2026. UBS also noted signs of a strengthening demand environment, with proactive industries—particularly consumer electronics—beginning to recover after a period of softness.

UBS said the company's financial momentum appeared to be accelerating into 2026. While some investors had grouped Exponent with broader consulting and AI-related concerns, UBS argued the firm was better positioned due to its premium offerings and highly technical expertise.

Based on these factors, UBS raised its price target and said the setup for Exponent shares appeared to be improving.