Universal Display price target raised to $196 from $189 at Roth MKM

Roth MKM analyst Scott Searle raised the firm’s price target on Universal Display to $196 from $189 and keeps a Buy rating on the shares. Despite macro consumer weakness, the company posted solid Q2 results with sales and gross margins upside driving a solid bottom-line beat, the analyst tells investors in a research note. RothMKM “remains upbeat” as blue 2024 commercialization remains on track and OVJP continues to make progress.