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Citi Upgrades Universal Display (OLED) to Buy on Pullback

May 19, 2021 7:05 AM EDT
Get Alerts OLED Hot Sheet
Price: $112.69 -0.18%

Rating Summary:
    11 Buy, 7 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
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(Updated - May 19, 2021 7:08 AM EDT)

Citi analyst Atif Malik upgraded Universal Display (NASDAQ: OLED) from Neutral to Buy with a price target of $253.00 (from $217.00).

The analyst comments "LCD display sales, profitability, and capex investments have benefitted during the pandemic as demand for education, WFH, gaming, and TVs became more important in our lives to connect, be productive and be entertained. This hurt OLED display sales and investments in 2020/21 and OLED stock underperformed the market by 39%/18% respectively. Post pandemic, we expect UDC’s material sales to normalize on higher OLED utilization rates in 2022."

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 $202.41 yesterday.


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