Wedbush Upgrades Universal Display (PANL) to Outperform; Emitter Seeing Green

August 13, 2012 8:07 AM EDT
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Price: $3.16 --0%

Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 11 | New: 7
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Wedbush upgraded Universal Display (NASDAQ: PANL) from Neutral to Outperform with a price target of $56.00 (from $32.00).

Analyst, Craig Irwin, said, "We are upgrading shares of Universal Display on substantially higher confidence after investor meetings at the company. UDC will supply a good share of Samsung’s green OLED emitter. The meeting did not lower our concerns about the potential for future push outs of OLED TVs and low probable market potential given the $9,000 price point, where 2013 and 2014 market growth is expected to benefit greatly from this application. Our updated estimates incorporate this uncertainty and have low TV expectations."

Raises FY13 EPS estimate from $1.60 to $1.85.

For an analyst ratings summary and ratings history on Universal Display click here. For more ratings news on Universal Display click here.

Shares of Universal Display closed at $39.55 yesterday.

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