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 $101.15.
Uerkwitz commented:
“OLED reported 2Q18 revenue/EPS of $56M/$0.23, beating consensus of $50M/ $0.15E and our $46M/$0.12E. Material sales have improved sequentially. Although material sales were still down Y/Y, management believes its key handset customer has worked through excess inventory and will resume normal ordering patterns in 2H18. Despite encouraging sequential growth in 2Q, management remains cautious near term and reaffirmed its 2018 revenue guidance. Longer term, it remains confident over a material demand uptick in 2019 from emerging OLED panel makers in China and LG’s expanding OLED TV capacity. We believe our investment thesis is intact and Universal Display is following a steady road map to resume growth. Reiterate Outperform.”
According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 14.8% and a 62.1% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Turtle Beach Corp, Electronic Arts, and Synaptics Inc.
Universal Display has an analyst consensus of Strong Buy, with a price target consensus of $138.
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Universal Display’s market cap is currently $4.78B and has a P/E ratio of 48.40. The company has a Price to Book ratio of 7.43.
Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock.
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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.
