TUALATIN, Ore., Aug. 28, 2012 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI), a platform company dedicated to the acquisition, development, and commercialization of new, innovative technologies, today announced that Merriman Capital (MERR.PK) and Accredited Members Inc. ("AMI") have both updated their equity research coverage on the company. Both entities reconfirmed a "BUY" rating and, in the case of AMI raised the 12-month target price from $12 per share to $14 per share and, in the case of Merriman Capital, reconfirmed the 12-month target price of $19.75 per share.
As set forth in the Merriman Capital Report, the basis for the updated report is:
"We are reiterating our BUY rating on CUI Global Inc. and are maintaining our price target of $19.75 per share. We continue to feel confident with this price target mainly from the aggressive development of the sales channel for the company's Vergence product and related orders coming through the door, layered on top of the company's superior growth profile, backed by the scalability of its diverse technology platform. An established reseller of electromechanical components, CUI is rapidly scaling up its IP footprint to develop value-added products targeted at diverse industrial end markets."
CUI Global's President and CEO William J. Clough said, "These updated analysis reflect the recent growth in our core business and developments in the company's Vergence™ Technology."
"Such positive 'BUY' ratings and increased target pricing confirm the continuing and growing interest in our natural gas inferential metering device by some of the industry's largest players and validates our distributor-based sales plan," Clough concluded.
Merriman Capital and AMI and their research analysts provide institutional-quality, equity research reports detailing CUI Global's key statistics, management, growth catalysts, financial outlook and valuation. The complete updated reports are available on the CUI Global website:
About CUI Global, Inc.
Delivering Innovative Technologies for an Interconnected World . . . . .
CUI Global is a publicly traded platform company dedicated to maximizing shareholder value through the acquisition and development of innovative companies and technologies. From its Vergence GasPT2 platform targeting the energy sector, to its subsidiary CUI Inc.'s industry leading digital power platform targeting the networking and telecom industries, CUI Global has built a diversified portfolio of industry leading technologies that touch many markets. As a publicly traded company, shareholders are able to participate in the opportunities, revenues, and profits generated by the products, technologies, and market channels of CUI Global and its subsidiaries. CUI Global prides itself on operating with the same level of integrity, respect, and philanthropic dedication that was put in place by CUI Inc.'s founder more than 20 years ago. It is these values that allow the company to make a difference in the lives of their customers, their community, their employees, and their investors. Recently, a move was made to merge and streamline resources with its subsidiary CUI Inc. in order to create a unified, international brand that now positions CUI Global for further strategic expansion.
About CUI Inc.
CUI Inc. is a technology company dedicated to the development, commercialization, and distribution of new, innovative electro-mechanical products. Over the past 20 years, CUI has become a recognized name in electronic components worldwide in the areas of power, interconnect, motion control, and sound. CUI's solid customer commitment and honest corporate message are a hallmark in the industry. CUI is a wholly owned subsidiary of CUI Global, Inc. For more information, please visit www.cui.com.
Important Cautions Regarding Forward Looking Statements
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the company and its operations, are included in certain forms the company has filed with the Securities and Exchange Commission.
SOURCE CUI Global, Inc.