Canaccord Genuity Maintains a 'Hold' on Universal Display (PANL); Form Strategic Alliance with Samsung
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Price: $8.14 +3.04%
Rating Summary:
3 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Hold' on Universal Display (NASDAQ: PANL) price target of $39.00.
Canaccord analyst, Jonathan Dorsheimer, says, "We maintain our rating on UDC shares following the announcement in Korea of a strategic alliance between UDC and Samsung Mobile Display...Instead of chasing the stock, we will wait for our meeting with SMD for more color on the terms and implications of the alliance before becoming more constructive on the shares."
"A 2% royalty with the same target model, and again a 10x-12x multiple, provides $5.00 in EPS and a mid-to low $50 stock. We feel the midpoint, a high $30/low $40 range, fairly balances the risk/reward of the pending agreement’s uncertainty."
For more ratings news on Universal Display click here and for the rating history of Universal Display click here.
Shares of Universal Display closed at $34.76 yesterday.
Canaccord analyst, Jonathan Dorsheimer, says, "We maintain our rating on UDC shares following the announcement in Korea of a strategic alliance between UDC and Samsung Mobile Display...Instead of chasing the stock, we will wait for our meeting with SMD for more color on the terms and implications of the alliance before becoming more constructive on the shares."
"A 2% royalty with the same target model, and again a 10x-12x multiple, provides $5.00 in EPS and a mid-to low $50 stock. We feel the midpoint, a high $30/low $40 range, fairly balances the risk/reward of the pending agreement’s uncertainty."
For more ratings news on Universal Display click here and for the rating history of Universal Display click here.
Shares of Universal Display closed at $34.76 yesterday.
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