Universal Display Corp.
- May 7, 2019
Upside surprise from 1Q results, raising price target to $180
Universal Display develops and sells organic light-emitting diode (OLED) technology and materials that are used in mobile handsets, automotive displays, and TVs. The company reported better than expected first quarter 2019 results and raised revenue guidance. While upside surprise came mostly from South Korea customers, sales to Chinese panel makers also grew significantly.
Oppenheimer analyst Andrew Uerkwitz believes fundamental demand for small-size and large-size OLED displays will significantly improve in 2019-2020 due to the beginning of high volume supply of rigid and flexible OLED handset display from Chinese panel makers.
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