Universal Display (PANL -9%) falls hard after Piper reiterates an Underweight and lowers its PT...

|About: Universal Display Corporation (OLED)|By:, SA News Editor

Universal Display (PANL -9%) falls hard after Piper reiterates an Underweight and lowers its PT to $28. The firm expects total materials sales to fall this year and next, as customers begin using PANL's products more efficiently, and (unlike others) doesn't expect new deals with major display manufacturers anytime soon. Piper's comments are overshadowing a deal with Plextronics to develop new OLED manufacturing systems. (previous)