Susquehanna Reiterates Negative Rating on Universal Display (OLED) as Earnings Announcement Likely to Contain Negative Fundamental Data Points
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Susquehanna analyst Mehdi Hosseini reiterated a Negative rating and $120.00 price target on Universal Display (NASDAQ: OLED) ahead of earnings on 2/18 AMC. The analyst expects upside to numbers but sees several negative catalysts in the immediate future for the company.
He stated "Despite prospects of material upside to December quarter expectations, we believe this will be the last upside driven by lack of end-market diversification given the adoption of Mini/Micro LED for TV application, expiration of licensing agreement with key customers, and lack of a commercially available Phosphorous/TADF Blue Emitter (which we believe has prompted Samsung to increasingly consider using its own internally developed Emitter material)."
Shares of Universal Display closed at $248.68 yesterday.
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