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

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