UPDATE: Topeka Capital Markets Downgrades LG Display Co. to Hold, Reiterates $16.15 PT
In a report published Friday, Topeka Capital Markets downgraded its rating on LG Display Co. (NYSE: LPL) from Buy to Hold, and reiterated its $16.15 price target.
Topeka Capital noted, “Given the 36% rise in LPL's stock price over the past month and now at what we believe to be a healthy valuation in the current environment, we are downgrading our rating on LG Display to HOLD from BUY but maintaining our price target. We still expect LPL to outperform its competitors and gain share; however, we believe the upside potential now appears limited.”
LG Display Co. closed on Thursday at $16.29.
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