Universal Display upgraded on lack of competitive threat

SeekingAlpha · 2020-07-27
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% ... 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.

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.

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