UPDATE - Canaccord Adams Upgrades Universal Display (PANL) to Buy; A Bright SID Conference Highlights OLED Ramp

June 1, 2010 2:11 PM EDT
UPDATE - Canaccord Adams upgrades Universal Display (PANL) from Hold to Buy, price target increased to $22.50 from $12.50.

Canaccord analyst says, "We are upgrading PANL shares to BUY, as we believe the Street is underestimating the timing and earnings power for OLEDs and Universal Display’s model. We are bullish on OLED for mobile and believe if 50% of the ensuing capacity is sold over the two years, then Universal Display could earn $1.50 in 2012."

"We note that this is the first time we have enough confidence in the company’s model producing consistent positive net income to allow a valuation methodology as a multiple of earnings."

To see all the upgrades/downgrades on shares of PANL, visit our Analyst Ratings page.

Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies for use in flat panel display, solid-state lighting and other applications. OLEDs are thin, lightweight and power-efficient solid-state devices that emit light, making them suitable for use in full-color displays and as lighting products.

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