Universal Should Gain From HP Deal6/30/2002 8:00 PM Eastern
Morgan Keegan & Co. analyst Murray Arenson reiterated his "outperform" rating on Universal Electronics Inc., after the remote-control manufacturer said it has integrated its Nevo wireless control platform with Hewlett-Packard Co.'s newest line of IPAQ Pocket PC personal digital assistants. In a report, Arenson said the IPAQ is the second-highest-selling PDA, and the deal could lead to additional agreements with other PDA manufacturers. Nevo would enable the PDA to serve as a wireless remote for electronic devices in 20 categories. Universal is already working on integrating Nevo with Palm Inc.'s Palm Pilot PDA's. While Arenson said that the integration agreement would not prompt him to adjust his revenue and earnings forecasts for the company, it does "increase our comfort level with our existing estimates."