Universal Display (PANL) shares are sharply higher today after Canaccord Adams analyst Jonathan Dorsheimer this morning raised his rating on the company to Buy from Hold, setting a $22.50 price target. He contends the Street is “underestimating the timing and earnings power for OLEDs and Universal Display’s model,” he writes.
He says Universal holds “the key fundamental patent associated with phosphorescent OLED technology and has built a strong patent portfolio around this key technology.”
PANL is up $2.09, or 13.5%, to $17.58.
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