U-Blox downgraded to Sell from Neutral at UBS

UBS analyst Francois-Xavier Bouvignies downgraded U-Blox to Sell from Neutral with a price target of CHF 100, down from CHF 135. The downgrade reflects the company’s exposure to the weakening consumer and industrial end markets, Bouvignies tells investors in a research note. The analyst expects a decline in pricing power as the chip industry goes through a downturn.