Ubiquiti price target lowered to $141 from $207 at Barclays

Barclays analyst Tim Long lowered the firm’s price target on Ubiquiti to $141 from $207 and keeps an Underweight rating on the shares. The company’s fiscal Q4 results came in higher than estimates, with Enterprise Technology driving the beat, the analyst tells investors in a research note. However, the firm says high component pricing and product mixed again tempered margin gains from lower freight costs. It believes Ubiquiti’s Service Provider business will remain pressured going forward.