Goldman Sachs Maintains Bullish Stance on Universal Display (PANL) Following Management Meetings

Goldman Sachs reiterated their Buy rating and $68 price target on Universal Display (NASDAQ: PANL) following meetings with senior management team, including the CEO, CTO and VP of sales.

Takeaways from the meeting include:
1. the company sees significant revenue opportunity in host materials – both green and blue;
2. Management sees growth in the OLED market outpacing expectations and sees upside to third-party estimates of $14bn in 2015;
3. Confidence in the ability to defend core OLED IP remains very high;
4. the potential for commercialization of advancements in OLED technology provides
call options for sustained long-term revenue growth;
5. The SEC has ruled the company is compliant in its disclosure on terms of its recent agreement with Samsung;
6. Confusion and speculation around ongoing IP litigation is acknowledged, and the company is exploring ways to provide more timely, detailed disclosure and improve clarity in the the future.

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 $34.54 yesterday.

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