Universal Electronics downgraded to Neutral at Rosenblatt amid revenue headwinds

As previously reported, Rosenblatt downgraded Universal Electronics to Neutral from Buy with a price target of $20, down from $36, following Q4 results and Q1 guidance that were "well below expectations." Revenue is forecasted to down over 20% year-over-year in Q1 and even with sequential improvement, full year double-digit revenue declines "are going to be disappointing," the analyst tells investors.