Ubiquiti price target lowered to $160 from $375 at BWS Financial

BWS Financial analyst Hamed Khorsand lowered the firm’s price target on Ubiquiti to $160 from $375 and keeps a Buy rating on the shares after the company reported lower than expected revenue and earnings in the September quarter, which the firm notes “has been seasonally strong in the past.” While the firm continues to believe new product introductions should ignite growth, it now sees “an extended timeline” for Ubiquiti to post the revenue and earnings required for the stock to hit the firm’s previous price target.