Universal Display (OLED) PT Lowered to $162 at Citi

Citi analyst Atif Malik lowered the price target on Universal Display (NASDAQ: OLED) to $162.00 (from $200.00) while maintaining a Neutral rating.

The analyst comments "We restructure our model and remain Neutral-rated on OLED. Our FY24/25 EPS estimates are unchanged, and we revise our target price to $162 from $200. We value OLED using 27x P/E or below the 33x P/E prior times CY25E EPS. The 27x P/E is consistent with 3-year average P/E of consumable peers. We believe the stock is fairly valued and await updates during 2/20 Dec-Q earnings call on the state of blue emitters commercialization and OLED adoption outlook across broad end markets in 2025."

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