Canaccord Genuity Reiterates Hold Rating, $30 PT on Universal Display Corporation

In a report published Monday, Canaccord Genuity reiterated its Hold rating and $30.00 price target on Universal Display Corporation

, related to the recent verdict in the Apple vs. Samsung trial. Canaccord Genuity noted, “We believe this verdict could lead to Samsung also delaying nearterm product launches as it attempts to design around Apple's patents. We also believe other Android OEMs, such as HTC, Sony, and LG, will review this patent verdict and potentially alter and delay planned Android smartphones and tablets. As Samsung specifically and to a lesser extent other Android devices represent basically all of UDC's commercial revenues, this ruling is clearly negative for UDC. An injunction or product delays would affect UDC's results; however, absent any further information until the hearing later this month and the trickle out of product announcements, the exact effect is difficult to quantify.” Universal Display Corporation closed on Friday at $42.73.