Topeka Capital Downgrades LG Display (LPL) to Sell; Swap Into Corning (GLW)

Topeka Capital downgraded LG Display (NYSE: LPL) from Hold to Sell with a price target of $12.00 (from $16.15).

The firm comments, "In our view, LPL's stock has overshot to the upside over the past six months with a 91% increase from the lows in June and now trades at a valuation level that we believe could prove to be the peak of this cycle. As such, we are downgrading our investment opinion on LG Display to SELL from HOLD and lowering our 12-month price target to $12.00 from $16.15. We advise investors to swap out of LPL and into Corning (NYSE: GLW)."

For an analyst ratings summary and ratings history on LG Display click here. For more ratings news on LG Display click here.

Shares of LG Display closed at $16.05 yesterday.

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