SAN FRANCISCO - June 25, 2014 - Merriman Capital, Inc. ("Merriman"), a wholly owned subsidiary of Merriman Holdings, Inc. (MERR), announced today that it has initiated equity research coverage of UTStarcom Holdings Corp. (UTSI) with a Buy rating and a $5.00 price target. The research is provided by Tony Tian, CFA, of New Oriental Capital a Merriman Financial Entrepreneur Platform participant.
Initially founded in 1991, UTStarcom Holdings Corp. is a niche telecommunications infrastructure vendor which offers carrier-class broadband transport and access products and solutions optimized for mobile backhaul, metro aggregation, broadband access, and Wi-Fi data offloading. With total headcount of 607 as of the end of 2013, the Company has operating entities in Tokyo, Japan; San Jose, USA; Hangzhou, China; and Delhi and Bangalore, India and has been NASDAQ listed under ticker "UTSI" since 2000.
About Merriman Capital, Inc.
Merriman Capital, Inc. is a full service investment bank and Broker-Dealer that facilitates efficient capital formation through a proprietary digital network, and offers Capital Markets Advisory and comprehensive Corporate Brokerage services for public and private companies. The firm also provides equity and options execution services for sophisticated investors and differentiated research for high growth companies. Merriman Capital, Inc. is a wholly owned brokerage subsidiary of Merriman Holdings, Inc. (MERR) and is a leading advisory firm for publicly traded, high-growth companies.
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Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on March 31, 2014. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K filed on March 31, 2014, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on "Investor Relations."
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New Oriental Capital
Director of Research
Merriman Capital, Inc.
Chief Compliance Officer
Merriman Capital, Inc.
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Source: Merriman Holdings Inc. via GlobeNewswire