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Counterfeiting Undercuts AirMax, Deutsche Bank Downgrades Ubiquiti Networks (UBNT) to Hold

August 10, 2012 8:15 AM EDT Send to a Friend
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Price: $39.22 -2.19%

Rating Summary:
    10 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 23 | New: 13
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Deutsche Bank downgraded Ubiquiti Networks (NASDAQ: UBNT) from Buy to Hold with a price target of $12.00 (from $30.00).

"Overall, we were disappointed by the guide and feel there is long-term risk surrounding the counterfeiting issues with the AirMax platform. Unfortunately Ubiquiti’s guide did nothing to drown out the noise around the name," said analyst Brian Modoff.

"Counterfeit goods were blamed for the miss, but one has to wonder whether the market for AirMax is becoming saturated. This could be a possibility, but given the geographic growth profiles and the anemic growth seen in Latam, we do believe the main problem stems from counterfeiting. The challenge going forward will be protecting the AirMax product segment," he added.

For an analyst ratings summary and ratings history on Ubiquiti Networks click here. For more ratings news on Ubiquiti Networks click here.

Shares of Ubiquiti Networks closed at $15.01 yesterday.




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