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UPDATE: Topeka Capital Markets Downgrades LG Display to Sell Following Share Run

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Topeka Capital Markets reduced its rating on LG Display (NYSE: LPL) from Hold to Sell and lowered its price target from $16.15 to $12.

Topeka Capital Markets noted, "In our view, LPL's stock has overshot to the upside over the past six months with a 91% increase from the lows in June and now trades at a valuation level that we believe could prove to be the peak of this cycle. As such, we are downgrading our investment opinion on LG Display to SELL from HOLD and lowering our 12-month price target to $12.00 from $16.15. We advise investors to swap out of LPL and into Corning (GLW-$12.63: Buy)."

LG Display closed at $16.05 on Monday.

Latest Ratings for LPL

DateFirmActionFromTo
Jul 2016Bank of AmericaUpgradesNeutralBuy
Jun 2016NomuraUpgradesReduceNeutral
Jun 2016BarclaysInitiates Coverage onOverweight

View More Analyst Ratings for LPL
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Posted-In: Topeka Capital MarketsAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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