UBS Maintains a 'Buy' on Ubiquiti Networks (UBNT); Highlights From Investor Meeting

UBS maintains a 'Buy' on Ubiquiti Networks (NASDAQ: UBNT) price target raised $2 to $27.

UBS analyst says, "At an investor presentation today (webcast), UBNT revealed that Revs from its new radio platform to be unveiled in Chicago on March 23rd, could be realized as early as the June qtr. This is ahead of our expectation, and there could be modest upside to our estimate of $0.5m in Revs in the Sept 2012 qtr from platforms #4, 5. We believe this new product will be a microwave-based wireless backhaul product."

"Another investor concern has been a more rapid rise in opex, which at 7% of sales (as of last quarter) is running well below the company target of 8-10%. While R&D expenditure is expected to trend up in absolute dollars, UBNT affirmed that opex at 8-10% of sales was still a ways off, a positive. We remain comfortable with our current estimate of 7.8%/8.8% of sales for opex in FY13/FY14." (UBS maintains FY12/13 EPS estimate at $1.03/1.23)

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 $23.57 yesterday.

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