Needham & Company Upgrades Universal Display (PANL) to Buy

April 4, 2013 7:34 AM EDT
Get Alerts PANL Hot Sheet
Price: $3.28 -1.5%

Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Needham & Company upgraded Universal Display (NASDAQ: PANL) from Hold to Buy with a price target of $35.00.

"We are upgrading our rating on PANL to Buy from Hold based on growing confidence in the ramp in materials revenue from Samsung (NR) and what we regard as the attractive risk-reward opportunity in the stock, which is trading at 18.5x our outyear EPS estimate backing out net cash," said analyst James Ricchiuti.

"With the stock now trading back at levels it traded at prior to PANL’s Q4 release last month and given what we believe is very reasonable guidance for 2013, downside risk appears limited," added the analyst.

For an analyst ratings summary and ratings history on Universal Display (NASDAQ: PANL) click here. For more ratings news on Universal Display click here.

Shares of Universal Display closed at $27.44 yesterday.

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