Roth Capital Upgrades Universal Display (OLED) to Buy
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Roth Capital analyst Scott Searle upgraded Universal Display (NASDAQ: OLED) from Neutral to Buy with a price target of $250.00 (from $230.00).
The analyst comments "We are upgrading OLED to a Buy and raising our price target to $250 given the recent pull back (down 28% since mid-January) in combination with the improving 2021 outlook and relatively early days of OLED adoption. As we enter 2021, we expect the recovery in mobile devices (11% growth in 2021 according to Gartner) and continued growth in OLED TVs (~2% penetration) which gives comfort to 2021 guidance of 24-31% growth. Buy."
Shares of Universal Display closed at $180.00 yesterday.
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