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Oppenheimer upgrades Universal Display (PANL +3.5%) to Outperform. The firm argues strong...

Oppenheimer upgrades Universal Display (PANL +3.5%) to Outperform. The firm argues strong smartphone demand will allow the market for small OLED displays to post a 42% CAGR from 2010 to 2015, and that OLED TV growth will contribute to a 70% CAGR over this time for total shipment area. Oppenheimer also likes PANL's operating model, and the "lack of real competition" in the market for phosphorescent OLED materials (used in OLED lighting applications). Needham upgraded PANL last week.
Comments (4)
  • "Lack of real competition" in PHOLEDs is misleading, given that the real competition is via other technologies which are apparently beating PHOLEDs to market in lighting applications: http://bit.ly/XwoqRp

     

    See this article: http://seekingalpha.co... and the next for what will drive PANL shares in the medium and short term.
    12 Apr 2013, 10:53 AM Reply Like
  • LG is on track to commercialize OLED lighting this year. http://bit.ly/Zeqjmo
    We can debate future efficiency between led/oled in 2015 but if LG hits the market this year they have "beat" Philips to the market. Note Philips doesn't just work on LED they also produce OLED just not in the same supply expected to be unleashed by LG. A 5.5 Gen production fab by LG has potential to be a game changer for oled lighting. [yes we're both long panl, a friendly debate :) ]
    12 Apr 2013, 11:24 AM Reply Like
  • These are not comparable products, Sidney... The Philips product is 200lm/W, while the LG solution is 80 lm/W. The flexible aspect of the latter will open up some niche markets, but a general lighting business case requires over 100lm/W. Also price point is a question in both cases.
    13 Apr 2013, 12:57 AM Reply Like
  • Actually, the big business for OLEDs is displays at the moment, not lighting. Samsung has invested several $bn in this technology.
    Both, OLED lighting and OLED displays, will ultimately need phosphorescent emitters.
    I agree, that PANL is on a good track.
    12 Apr 2013, 01:19 PM Reply Like
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