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.

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