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Fly News Breaks for November 11, 2019
UI
Nov 11, 2019 | 06:22 EDT
Barclays analyst Tim Long raised his price target for Ubiquiti to $145 from $100 saying the company delivered a solid quarter, beating on all relevant key performance indicators. However, with buybacks "dramatically exceeding" cash flow, the analyst expect the pace of buyback to slow meaningfully. He maintains an Underweight rating on Ubiquiti citing uncertainty surrounding the business and a deteriorating balance sheet.
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