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: Merriman Capital 8/23/2012 Report Accredited Members 8/24/2012 Report
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