Goldman Sachs analyst Brian K. Lee has reiterated their bullish stance on OLED stock, giving a Buy rating today.
Brian K. Lee’s rating is based on a comprehensive analysis of Universal Display Corp.’s fourth-quarter performance and future prospects. The company reported robust financial results for the fourth quarter of 2023, with revenues slightly below expectations but adjusted earnings per share that met Goldman Sachs’ estimates and exceeded the broader consensus. Moreover, Universal Display’s guidance for the fiscal year 2024 aligns with market expectations, which indicates a stable outlook.
Additionally, Lee emphasizes the potential growth catalysts for Universal Display, particularly the expansion of Total Addressable Markets (TAMs) and the strategic focus on the commercialization of blue materials. These developments suggest that the company is positioned at the beginning of a new growth cycle, which supports the Buy rating and reflects the company’s strong future growth potential in the evolving display technology sector.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $210.00 price target.
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Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OLED in relation to earlier this year.
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Universal Display (OLED) Company Description:
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.
Read More on OLED:
- Universal Display Corp. (OLED) Q4 Earnings Cheat Sheet
- Universal Display price target raised to $198 from $175 at Needham
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- Universal Display downgraded to Neutral from Buy at Citi
- Universal Display price target raised to $170 from $150 at Susquehanna
