Ubiquiti price target lowered to $104 from $108 at Barclays

Barclays analyst Tim Long lowered the firm’s price target on Ubiquiti to $104 from $108 and keeps an Underweight rating on the shares. The company’s results came in lower than expected on sales, but margins were 190 basis points higher than expectations due to favorable mix, lower excess and obsolete inventory charges, and lower tariffs, the analyst tells investors in a research note.