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Fly News Breaks for May 11, 2018
UBNT
May 11, 2018 | 09:40 EDT
BMO Capital analyst Tim Long raised his price target on Ubiquiti Networks to $74 and kept his Market Perform rating after its "mixed" Q3 results, saying the "Enterprise segment was largely offset by weaker demand in Service Provider" segment. Long adds that the service provider business is typically "lumpy" and the company's new $200M buyback program is encouraging, but prefers to maintain a neutral stance until there is greater contribution to sales from its newer products.
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