Universal Electronics downgraded to Neutral from Buy at Rosenblatt

Rosenblatt downgraded Universal Electronics (UEIC) to Neutral from Buy with an $8 price target The firm says the company’s Home Control Business is not growing fast enough to offset pressure in its Latin American subscription broadcast business. Universal’s revenue is likely to be down on a year-over-year basis for the next two or three quarters, the analyst tells investors in a research note.