In a report released today, Andrew Uerkwitz from Oppenheimer maintained a Buy rating on Universal Display (NASDAQ: OLED), with a price target of $120. The company’s shares closed yesterday at $129.65.
Uerkwitz observed:
“OLED reported 3Q18 revenue/EPS of $77.6M/$0.49, lower than consensus of $91.4M/$0.66E and our $90.8M/$0.64E. Annual guidance also sees a significant cut to $240-250M from $290-310M. Management attributes the majority of shortfall to lower-than-expected demand from Samsung. Yield improvement at LG for its OLED TV is also to blame although it played a smaller role in guidance change. Meanwhile, it is still unclear when Chinese OLED panel makers will reach the scale of their Korean competitors despite unwavering capacity investments for the next two years. As a result, we take a more cautious (albeit still optimistic) outlook with reduced forward estimates and a lower price target of $120 (was $140).”
According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 19.5% and a 61.6% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Axon Enterprise Inc, Himax Technologies, and Turtle Beach Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Universal Display with a $151.33 average price target, implying a 16.7% upside from current levels. In a report issued on October 29, Goldman Sachs also reiterated a Buy rating on the stock with a $155 price target.
.
See today’s analyst top recommended stocks >>
Universal Display’s market cap is currently $6.13B and has a P/E ratio of 97.48. The company has a Price to Book ratio of 9.42.
Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Universal Display Corp. engages in research, development and commercialization of organic light emitting diode, technologies and materials. It also develops and licenses proprietary OLED technologies to manufacturers of products for display applications, such as cell phones, portable media devices, tablets, laptop computers and televisions and specialty and general lighting products. The company was founded by Sherwin I. Seligsohn in 1994 and is headquartered in Ewing, NJ.
