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Fly News Breaks for February 11, 2019
UBNT
Feb 11, 2019 | 07:17 EDT
BMO Capital analyst Tim Long raised his price target on Ubiquiti to $120 after its Q2 earnings, sales, and margins beat across the board. The analyst states that the Enterprise segment drove much of the revenue outperformance, and the rate of decline in Service Provider business was less than expected. Long keeps his Market Perform rating on the shares however, noting the spike in inventories which may reflect concerns about increased tariffs as well as the company's "lack of visibility into sales drivers".
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