Universal Display (PANL) Faces Macro Concerns but Growth Thesis Intact - Analyst

While macro concerns could likely impact capacity ramp at Samsung in the near/medium term, analysts at Deutsche Bank believe the longer term growth thesis for Universal Display (NASDAQ: PANL) remains intact.

"Progress on green material sales to Samsung remains encouraging and the company remains on track to sign additional long term license agreements with customers such as LG, AUO, Chimei," said analyst Vishal Shah.

"We acknowledge concerns about risk to 2013 estimates could remain an overhang on shares,” added Shah, “but with shares trading at the low end of historical valuation range, we believe risk-reward remains attractive."

Deutsche Bank has a Buy rating on Universal Display with a price target of $45.00.

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 $34.91 yesterday.

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