Universal Display Shares Fail to Bounce Despite Positive Mid-Day Note from Goldman

Goldman Sach's Brian Lee on Universal Display

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.