Universal Display (OLED) Revenues Cut At Susquehanna On Customer Inventory Cuts

Susquehanna analyst Mehdi Hosseini reiterated a Positive rating and $180.00 price target on Universal Display (NASDAQ: OLED) but cut his 2019 Revenue estimate to $329M from $336M to account for lower shipment and utilization rates at Samsung's Display. Consensus is currently $339M.

The analyst stated "Samsung's smartphone customers, particularly Apple, are aggressively reducing the inventory of OLED phones, adversely impacting loading and shipment at Samsung. We now expect Samsung's overall OLED display shipments in 1H19 to decline by ~20% Y/Y and down ~50% vs. 2H18, and below prior expectations. This, in our view, will consequently impact Emitter material demand at UDC particularly for Red Emitter. We believe Green Emitter shipment is tracking slightly better than Red Emitter since Green is used in both OLED smartphones and OLED TVs".

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 $155.34 yesterday.

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