BUZZ - Universal Display shares fall after Citi downgraded rating
路透社2026/10/08 12:06On October 8, shares of OLED materials company Universal Display (OLED.O) fell by 4.5% in pre-market trading to $73.8. Citigroup downgraded Universal Display from “Neutral” to “Sell” and lowered its price target from $85 to $71. The new target price implies about an 8% downside from the previous closing price. The brokerage pointed out the continued weakness in the smartphone market and delays in the adoption of blue OLED technology. Citigroup also noted that high memory costs and weak demand for mid- and low-end smartphones may continue to drag down sales of OLED materials. Out of 10 brokerages, seven rate the stock as “Buy” or higher, and three rate it as “Hold.” The median price target is $117.5. As of the previous trading day's close, the stock had fallen a cumulative 33.88% so far this year.
October 8 - ** Shares of OLED materials company Universal Display (OLED.O) fell 4.5% in pre-market trading to $73.8
** Citigroup downgraded Universal Display from "Neutral" to "Sell" and lowered its target price from $85 to $71
** The new target price suggests there is still about 8% downside from the previous closing price
** The brokerage pointed out continued weakness in the smartphone market and delays in the adoption of blue OLED technology
** Citigroup noted that persistently high memory costs and weak demand for mid- to low-end smartphones may continue to weigh on OLED material sales
** Out of 10 brokerages, 7 rate the stock "Buy" or higher, while 3 rate it "Hold"; the median target price is $117.5
** As of the previous trading day's close, the stock has declined 33.88% year to date
(To assist non-English speakers, Reuters has automatically translated its report into several other languages. As automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of the translated text, which is provided for reader convenience only. Reuters accepts no liability for any damage or loss arising from use of the automated translation function.)
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