With the Super Bowl only weeks away and March Madness to follow—not to mention several weeks of winter keeping many of us mostly indoors and out of the cold—plans to augment a home theater system are in the cards for many out there. And that’s likely making the folks at Universal Display (NASDAQ:OLED) happy, as it notched up fractionally on new analyst praise and plans for an upcoming conference appearance.
Universal Display won fine praise from Oppenheimer’s Martin Yang, who maintained his Outperform rating on the stock and also hiked the price target from $180 to $210 per share, thanks to recently-tipped earnings per share figures. Universal Display now looks to bring in $5.83 per share for the 2025 Fiscal Year, and that was enough for Oppenheimer to declare Universal Display its “highest-conviction idea into 2024.”
The best part, according to Oppenheimer, is that the macroeconomic conditions don’t matter so much. Oppenheimer looks for Universal Display to deliver significant revenue growth—in the “high-teens” range—even without recovery in the markets involved. This is thanks to a range of new platforms looking to incorporate organic light-emitting diode (OLED) displays in their operations.
Universal Display to Benefit from Upcoming Events
What’s really poised to help, meanwhile, are some upcoming events for Universal Display. One of the big ones will be on January 18, when it hits the 26th annual Needham Growth Conference. There, it will present some information about what it’s been doing in the field, which should catch at least some investors’ and analysts’ attention. Bigger than that, though, will be next week, when the Consumer Electronics Show (CES) event kicks off starting Tuesday, January 9. That will be four days of new hardware of all sorts and give Universal Display a chance to show off the parts of the market where it shines: phones, tablets, monitors, televisions, and more.
Is Universal Display Stock a Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on OLED stock based on six Buys assigned in the past three months, as indicated by the graphic below. After a 58.83% rally in its share price over the past year, the average OLED price target of $196 per share implies 11.2% upside potential.
