Ubiquiti Networks up 5.3% After Initiation with Buy Rating

Ubiquiti Networks

is trading higher this morning following the rating initiation at Wunderlich. The analyst firm initiated Ubiquiti Networks with a Buy rating and $25 price target. Ubiquiti Networks designs, manufactures and sells broadband wireless solutions. The company went public in October, 2011 and has gained nearly 40% since its IPO. The shares of Ubiquiti Networks are currently trading at $23.75, which is a gain of $1.19 or 5.27%.