Goldman Sachs Maintains Bullish View Universal Display (PANL) Following Q4 Results
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Price: $6.92 +0.87%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Goldman Sachs reiterated their Buy rating and $68 price target on Universal Display (NASDAQ: PANL) following fourth quarter results. Revenues of $18.7 million was in-line with the firm's estimate of $18.6 mn and 4% above consensus. EPS of $0.12 beat their estimate and the consensus of $0.06 and even adjusting for a one-time tax benefit, EPS was $0.02 better. For 2012, Universal Display reiterated its sales target of $90-$110 mn, implying 64% year-over-year growth at the midpoint.
"We remain Buy rated on PANL shares and see the stock moving higher as
OLED fundamentals gain momentum in 2012," the analyst said. They also highlighted that prior to the report, bearish sentiment was at an all-time high, with short interest at 30% of the float.
The firm lifted FY12 EPS estimates from $0.90 to $0.92, FY13 was raised from $2.75 to $2.80 and FY13 moved down form $3.50 to $3.15.
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 $45.68 yesterday.
"We remain Buy rated on PANL shares and see the stock moving higher as
OLED fundamentals gain momentum in 2012," the analyst said. They also highlighted that prior to the report, bearish sentiment was at an all-time high, with short interest at 30% of the float.
The firm lifted FY12 EPS estimates from $0.90 to $0.92, FY13 was raised from $2.75 to $2.80 and FY13 moved down form $3.50 to $3.15.
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 $45.68 yesterday.
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