Universal Display Shares Fail to Bounce Despite Positive Mid-Day Note from Goldman
Goldman Sach's Brian Lee on Universal Display (NASDAQ: PANL) said the timing for Galaxy S IV launch is in opposition to what Piper Jaffray's Jagadish Iyer said in a note from Monday morning.
Shares of Universal Display have been down around 10 percent throughout Monday's session as the Piper analyst said Samsung will use a second vendor besides Universal Display.
From the Goldman Sachs note:
"This timing for the Galaxy S IV launch is in stark contrast to a negative competitor report out this morning which appears to inaccurately suggest that SEC will delay the product's launch due to power issues."
Goldman cited a Reuters report suggesting Samsung Electronics will be unveiling the new phone at its "Unpacked" event at Radio City Music Hall on March 14th.
Goldman Sachs' Brian Lee maintains a Buy rating and $41 price target on shares of Universal Display.
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