Growing OLED Proliferation at CES a Positive for Universal Display (PANL) - Goldman Sachs
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Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 7 | New: 10
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Analysts at Goldman Sachs provided some insight on Universal Display (NASDAQ: PANL) after attending the Consumer Electronics Show (CES) in Las Vegas, which showed growing OLED proliferation.
Several new OLED-based devices were on display, electronics OEMs adding OLED technology to their product portfolios for the first time, the firm noted. OLED-based devices to launch this year include: 1. smartphone offerings from Nokia, Motorola, Pantech, Huawei and Fujitsu; 2. 7.7” tablets from Samsung and Toshiba, and; 3. 55” TVs – as expected – from both Samsung and LG.
"Compared to last year's show, the growing breadth of both devices and manufacturers adopting OLED technology was readily apparent, in our view, and bodes well for continued momentum in OLED adoption in 2012."
Based on Goldman's talks with vendors, they believe all the panels for the OLED devices at CES - with the exception of LG’s TV - will be supplied by Samsung, Universal's largest customer.
This development comes at odds with concerns from bears who have continued to argue that Universal’s revenue from Samsung is apt to disappoint in 2012 on lower volumes. "Rather, we come away from CES more confident in broadening OLED adoption trends across both device types and OEMs," Goldman's analyst said.
Goldman continues to see upside to consensus estimates and they are 25% above consensus EPS for both 2H12 and 2013.
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 $41.51 yesterday.
Several new OLED-based devices were on display, electronics OEMs adding OLED technology to their product portfolios for the first time, the firm noted. OLED-based devices to launch this year include: 1. smartphone offerings from Nokia, Motorola, Pantech, Huawei and Fujitsu; 2. 7.7” tablets from Samsung and Toshiba, and; 3. 55” TVs – as expected – from both Samsung and LG.
"Compared to last year's show, the growing breadth of both devices and manufacturers adopting OLED technology was readily apparent, in our view, and bodes well for continued momentum in OLED adoption in 2012."
Based on Goldman's talks with vendors, they believe all the panels for the OLED devices at CES - with the exception of LG’s TV - will be supplied by Samsung, Universal's largest customer.
This development comes at odds with concerns from bears who have continued to argue that Universal’s revenue from Samsung is apt to disappoint in 2012 on lower volumes. "Rather, we come away from CES more confident in broadening OLED adoption trends across both device types and OEMs," Goldman's analyst said.
Goldman continues to see upside to consensus estimates and they are 25% above consensus EPS for both 2H12 and 2013.
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 $41.51 yesterday.
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