Read How Analysts Reacted To Universal Display's Q4 Results

  • Analysts slashed their price targets on Universal Display Corp OLED following Q4 results.
  • Deutsche Bank analyst Sidney Ho lowered the price target to $180 from $240 (20% upside) and kept a Buy.
  • Although the company's 2022 outlook was below expectations, the announcement of phosphorescent Blue being ready for commercialization by 2024 is the main takeaway from earnings.
  • He believes this announcement "greatly reduces the bear thesis" for Universal Display that a competing technology would replace phosphorescent Blue before Blue is ready for commercialization.
  • Needham analyst James Ricchiuti lowered the price target to $195 from $245 (30% upside) after its Q4 earnings miss but kept a Buy.
  • R&D is scaling higher as the company advances the latter development of its blue emission system. The following two years will be strong ones as it benefits from the OLED capacity build-out in China and the market's ongoing growth.
  • Ricchiuti remains positive on Universal Display as the only pure-play in the OLED display market, stating that it is well-situated to benefit from the ongoing transition from LCD displays in the mobile market to OLED smartphones, tablets, and laptops.
  • Cowen analyst Krish Sankar lowered the price target to $175 from $225 (17% upside) and kept an Outperform.
  • The analyst said the December quarter sales were in line, but earnings were below consensus due to higher SG&A.
  • He said fundamentals remain steady, and the big incremental positive was detail on the Blue emitter and its commercial readiness in CY24.
  • Price Action: OLED shares traded higher by 12.4% at $149.59 on the last check Thursday.

Posted In: BriefsAnalyst ColorNewsPrice TargetReiterationAnalyst RatingsMoversTechTrading Ideas

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.