Universal Electronics: Upside from Growth in Asia

A Boston portfolio manager recommends Universal Electronics (NASDAQ: UEIC, $28.72) as a buy. UEIC dominates the market for wireless remote controls. The company acquired one of its suppliers Enson last November. The deal is crucial to UEIC's prospects as it provides the platform to substantially expand the company's presence in Asia and other fast-growing emerging markets. The presenter targets a 30% upside from the current level. The balance sheet has a significant cash position and little debt, which is expected to be paid off by the end of the year.