Goldman Lifts Target on Universal Display (PANL) by 44% to $65 Amid SMD Deal
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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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Goldman Sachs issued a mid-day research note on shares of recent momentum play Universal Display (Nasdaq: PANL) Wednesday. The firm boosted its price target and estimates for the company, and recommended investors buy following the agreement with Samsung Mobile Display.
Goldman believes the deal "should accelerate commercial revenue growth while removing uncertainty in the model."
The firm raised its FY11 estimate on Universal Display from a loss of 4 cents to a loss of 2 cents per share, its FY12 EPS estimate from 82 cents to 95 cents and its FY13 estimate from $1.89 to $2.09.
Goldman now sees shares of Universal Display rising to $65 over the next year, up from a prior target of $45.
With PANL shares trading down nearly 2 percent to around $50 even this afternoon, Goldman's raised price target represents potential upside of about 30 percent.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Universal Display.
Goldman believes the deal "should accelerate commercial revenue growth while removing uncertainty in the model."
The firm raised its FY11 estimate on Universal Display from a loss of 4 cents to a loss of 2 cents per share, its FY12 EPS estimate from 82 cents to 95 cents and its FY13 estimate from $1.89 to $2.09.
Goldman now sees shares of Universal Display rising to $65 over the next year, up from a prior target of $45.
With PANL shares trading down nearly 2 percent to around $50 even this afternoon, Goldman's raised price target represents potential upside of about 30 percent.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Universal Display.
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