BWS Financial Reiterates Buy Rating on Ubiquiti (UI)

BWS Financial analyst Hamed Khorsand reiterated a Buy rating and $200.00 price target on Ubiquiti (NYSE: UI) while raising 2020 and 2021 EPS estimates due to buybacks.

The analyst commented, "Between the end of September quarter and December 11, 2019, Ubiquiti repurchased 2.4 million shares of the stock. The Company had already bought back approximately 5 million shares in the September quarter. The continued shrinking of the share count gives CEO Robert Pera approximately 89 percent ownership of Ubiquiti. We are not expecting a privatization to occur in the immediate future."

In addition to the buybacks, the analyst was positive on new products from the company.

For an analyst ratings summary and ratings history on Ubiquiti click here. For more ratings news on Ubiquiti click here.

Shares of Ubiquiti closed at $189.37 yesterday.

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