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Needham Thinks Universal Display’s Stock is Going to Recover

Needham analyst James Ricchiuti maintained a Buy rating on Universal Display (OLEDResearch Report) today and set a price target of $140.00. The company’s shares closed last Monday at $112.86, close to its 52-week low of $98.71.

According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 16.7% and a 57.6% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Benchmark Electronics, Teledyne Technologies, and Shapeways Holdings.

Currently, the analyst consensus on Universal Display is a Moderate Buy with an average price target of $162.29, representing a 43.2% upside. In a report issued on July 18, Evercore ISI also maintained a Buy rating on the stock with a $140.00 price target.

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Universal Display’s market cap is currently $5.33B and has a P/E ratio of 29.49.

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Universal Display Corp. engages in research, development, and commercialization of organic light emitting diode, technologies, and materials. It also develops and licenses proprietary OLED technologies to manufacturers of products for display applications, such as cell phones; portable media devices; tablets; laptop computers and televisions; and specialty and general lighting products. The company was founded by Sherwin I. Seligsohn in 1994 and is headquartered in Ewing, NJ.

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