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Needham upgrades Universal Display to Buy ahead of earnings

Published 02/20/2018, 08:07 AM
© Reuters.  Needham upgrades Universal Display to Buy ahead of earnings
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  • Needham upgrades Universal Display (NASDAQ:OLED) from Hold to Buy with a $180 price target, a 16% upside to Friday’s close.
  • Firm had been looking for the right entry point since last summer. The upgrade came with shares off more than 25% from last month’s highs.
  • Needham says Thursday’s Q4 report is more cautious than prior quarters and has anxiousness about Samsung (KS:005930) and the Apple (NASDAQ:AAPL) ramp.
  • But the firm says the positives outweigh the negatives with the new Samsung license agreement and capacity ramping in Korea and China in the coming years.
  • Source: Briefing.com.
  • Update: Universal Display shares are down 3% premarket on reports that Samsung is cutting its OLED panel production.
  • Previously: Samsung to slash OLED panel production (Feb. 20)
  • Now read: Logitech: What's Left?


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