BWS Financial analyst Hamed Khorsand raised the firm’s price target on Ubiquiti (UI) to $385 from $240 and keeps a Buy rating on the shares. The company reported fiscal Q1 results in line with expectations as strength in enterprise continues to more than offset stalled service provider segment revenue, the analyst tells investors in a research note. The firm says Ubiquiti is now on pace to exceed the earnings levels the company reported in fiscal 2021, which was the prime period of COVID-19 spending.
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