Goldman Sachs Pounds the Table on Universal Display (PANL), Shares React

Shares of Universal Display (NASDAQ: PANL) are sharply higher early Tuesday which could be related to positive comments from Goldman Sachs.

The firm said PANL remains their "favorite idea" and the "best risk/reward in our coverage universe." The firm's Buy rating and $68 price target implies 88% upside.

Goldman said consensus estiamtes continue to under-appreciate the company's earnings power, particularly in the near-to-medium term. Also, shares have continued to underperform.

"Longer term, we can envision a credible, bullcase scenario in which OLED market growth and share gains drive PANL's EPS toward $10 over the next 3 to 5 years."

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 are up 6 percent in early trade to $37.81

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