Universal Display (PANL) Jumps as Goldman See Company Gaining Share in Korea
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Price: $30.36 -1.01%
Rating Summary:
9 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
9 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade PANL Now!
Shares of Universal Display (NASDAQ: PANL) are sharply higher early Thursday following positive commentary from Goldman Sachs, which reiterated their Buy rating and $61 price target saying OLED checks in Korea indicate the company is gaining shares.
"Following field work in Korea, we have more confidence that PANL is gaining share in the OLED materials stack," the firm said.
Goldman's checks showed that: (1) PANL is well positioned to win Samsung's green emitter and green host business, and (2) PANL will potentially partner with a Korean manufacturer to produce green hosts, partly in response to Samsung's preference for a localized value chain.
A potential manufacturing announcement could be a near-term catalyst, the firm believes.
The revenue opportunity per device is set to increase 4-5x, the firm notes. They see two key drivers to higher revenue: sales of green emitters and hosts and larger displays in Samsung's products. The firm notes that relative to the Galaxy S, the Galaxy S3/Galaxy Note have 45%/75% more surface area, respectively.
Goldman is also more confident that the company's materials patents are at low risk of being invalidated in Korea.
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 are up 3.8 percent to $32.
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"Following field work in Korea, we have more confidence that PANL is gaining share in the OLED materials stack," the firm said.
Goldman's checks showed that: (1) PANL is well positioned to win Samsung's green emitter and green host business, and (2) PANL will potentially partner with a Korean manufacturer to produce green hosts, partly in response to Samsung's preference for a localized value chain.
A potential manufacturing announcement could be a near-term catalyst, the firm believes.
The revenue opportunity per device is set to increase 4-5x, the firm notes. They see two key drivers to higher revenue: sales of green emitters and hosts and larger displays in Samsung's products. The firm notes that relative to the Galaxy S, the Galaxy S3/Galaxy Note have 45%/75% more surface area, respectively.
Goldman is also more confident that the company's materials patents are at low risk of being invalidated in Korea.
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 are up 3.8 percent to $32.
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