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Fly News Breaks for March 10, 2016
UEIC
Mar 10, 2016 | 06:31 EDT
Piper Jaffray analyst Michael Olson says the deal announced last night shows Universal Electronics' (UEIC) largest customer Comcast (CMCSA) intends to increase spend with the company. The six year deal implies that Comcast intends to continue to roll-out Universal Electronics next generation remotes "at a rapid pace" and adds the potential for Comcast to sell the company's security offerings for XFINITY Home, Olson tells investors in a research note. He maintains an Overweight rating on Universal Electronics with a $69 price target.
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