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Needham upgrades Universal Display (PANL +5.4%) to Buy, citing "growing confidence" in ramping...

Needham upgrades Universal Display (PANL +5.4%) to Buy, citing "growing confidence" in ramping materials sales to Samsung and a valuation of 18.5x 2014E EPS (exc. net cash). Cowen recently declared strong Galaxy S IV pre-order activity in the U.K. a positive for PANL. Shares have mostly been range-bound for the last 2 months.
Comments (1)
  • I think we're all wondering how one arrives at an 18 multiple when gross margins on emitters > 90% and host > 65% and revenue growth > 50%
    4 Apr 2013, 10:34 AM Reply Like
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