Universal Display upgraded on lack of competitive threat
Seeing Universal Display (NASDAQ:OLED) as likely to beat expectations into 2021, Oppenheimer upgrades the company from Perform to Outperform with a $210 price target, a 34%.
Analyst Martin Yang notes there is no "meaningful competitive threat to OLED and OLED display in the next 12-18 months."
Yang sees a higher likelihood of a "fundamental market recovery," writing that major customers have already committed to "substantial capex plans" for the next three years.
OLED shares are up 2.5% pre-market to $160.58.
Universal Display has a Neutral average Wall St. Analysts rating and $174.90 average price target.