Buy Universal Display (OLED) on Samsung Related Weakness - Cowen
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Cowen analyst Robert Stone defended Universal Display (NASDAQ: OLED) with shares weaker after Samsung ending Note 7 production.
"While this may reduce Samsung short-term emitter purchases, we expect continued share gains vs. LCD," Stone said. "Many other Samsung devices use AMOLED displays, other external customers have been supply constrained, and the Q4:16 license payment is fixed."
The analyst recommend investors buy on weakness.
The firm reiterated an Outperform rating and price target of $75 on OLED.
Shares of Universal Display closed at $53.25 yesterday.
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