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Fly News Breaks for November 3, 2017
UEIC
Nov 3, 2017 | 09:54 EDT
Piper Jaffray analyst Michael Olson lowered his price target for Universal Electronics to $70 after company's Q3 results and Q4 outlook missed expectations. Results over the past year have been "lumpy due to transition friction as TV service providers shift to next-gen offerings," Olson tells investors in a post-earnings research note. The analyst, however, believes increasing volumes of higher priced remotes can drive multi-year growth for Universal Electronics. He keeps an Overweight rating on the shares.
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