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Universal Electronics Initiated With Buy Rating At Lake Street Capital

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Lake Street initiated coverage on Universal Electronics Inc (NASDAQ: UEIC) with Buy Rating and $87 price target.

The analysts believe the company is well-positioned to see sustained top- and bottom-line growth as it benefits from cable and satellite providers' rollouts of next-gen platforms and the ramp of home security products. Management believe the company has a 600 million subscriber opportunity in the subscription broadcasting market and forecasts to be supplying over 110 million of these subs over the next few years.

"Ultimately, we believe UEI can achieve its informal, long-term guidance targeting an average annual sales growth rate of 5-10 percent and earnings growth of 10-20 percent over the next five years given the current pipeline and market trends," wrote Lake Street

The $87 price target is based on the analysts' 23x 2017 pro forma EPS of $3.78.

Latest Ratings for UEIC

DateFirmActionFromTo
Jun 2019UpgradesNeutralBuy
Jun 2019DowngradesBuyNeutral
Nov 2018UpgradesNeutralBuy

View More Analyst Ratings for UEIC
View the Latest Analyst Ratings

Posted-In: Analyst Color Price Target Initiation Analyst Ratings

 

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