Raymond James analyst Tavis McCourt gave his take on Citron Research's short report published yesterday on Ubiquiti Networks, stating that while "there were a few nuances that were new," most of the points were "hyperbolized rehashes" of concerns that have previously been raised about the company's margins and business model. He added that well-known forensic accounting consultancy FTI Consulting served as acting CFO and CAO at Ubiquiti for about a year, contending that "any fraud perpetuated on their watch would seem unlikely" in his view. McCourt, who raised his estimates slightly for Ubiquiti following the company's tightening of its quarterly revenue view, keeps a Market Perform rating on the stock, citing weak near-term cash flows.