Deutsche Bank Upgrades Universal Electronics Inc. (UEIC) to Buy
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Price: $26.07 -0.69%
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Trade UEIC Now!
Deutsche Bank upgrades Universal Electronics Inc. (Nasdaq: UEIC) from Hold to Buy following the acquisition of Chinese remote control manufacturer CG International for $110 million. The firm raised their price target from $18 to $28
Commenting on the deal, the firm notes ..."expect to be largely accretive and drives guidance well above our expectations. While integration remains a key risk, we think the terms of the deal prove attractive enough to merit a Buy rating."
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Commenting on the deal, the firm notes ..."expect to be largely accretive and drives guidance well above our expectations. While integration remains a key risk, we think the terms of the deal prove attractive enough to merit a Buy rating."
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