Universal Display price target raised to $150 from $130 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Universal Display to $150 from $130 and keeps a Buy rating on the shares. While the firm expects Universal Display to report generally in-line Q4 results despite growing demand headwinds across IT segments, with macro headwinds likely impacting consumer spending and OLED capacity additions, Deutsche Bank sees the company providing a relatively conservative outlook for CY23, the analyst tells investors in a research note.