UPDATE: Loewen Ondaatje McCutcheon Initiates Coverage on CUI Global with Buy Rating, $8 PT

In a report published Friday, Loewen Ondaatje McCutcheon USA Limited initiated coverage on CUI Global CUI with a Buy rating and $8.00 price target. Loewen Ondaatje McCutcheon noted, “CUI is today a leading provider of power management components and other electromechanical items for electronic devices. It has built a solid niche in providing high‐quality components at premium pricing for low‐volume or quick‐turn applications. Management expects imminent commercial orders for its GasPT2 intra‐pipeline natural gas quality measurement tool. Large pipeline operators as well as gas turbine manufacturers have been extensively testing the device. We believe the market opportunity could be well over $1 billion worldwide.” CUI Global closed on Thursday at $5.58.