Gabelli Maintains Buy on Universal Display

Gabelli is out with its report today on Universal Display PANL, maintaining Buy. In its report, Gabelli writes, "Universal Display issued an 8-K form that shares information on its patent licensing & material purchase agreement with Samsung Mobile Display. One new major announcement is a joint press release that Samsung Mobile Display is going to launch new AMOLED display products with Universal Display's green materials and red materials. This is the announcement of the adoption of green emitter materials that we have been waiting for. The addition of green emitter materials and potentially green host materials can double Universal Display commercial materials revenue (assuming the green emitter materials have similar ASP and consumption rate with the red emitter materials)." At the time of posting, shares of PANL were trading pre-market at $53.65, up 3.75% from Friday's close.