As previously reported, BofA analyst Simon Woo upgraded Universal Display to Buy from Neutral with a price target of $250, up from $160. The firm raised its 2024 and 2025 EPS estimates by 8% and 14%, respectively, given a slightly faster OLED demand turnaround and panel makers’ capacity expansion plans. The firm additionally noted that the U.S. government does not control OLED exports to China, unlike for semiconductors.
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