Universal Display price target raised to $244 from $236 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Universal Display to $244 from $236 and keeps a Buy rating on the shares ahead of its Q3 results. The firm sees the company reporting a “relatively uneventful” quarter with revenue and earnings mostly inline with expectations, though it may still signal a strong year-end momentum that should put Universal Display toward the higher end of its revenue guidance range for 2024, the analyst tells investors in a research note. Focus on the management’s IT growth potential heading into FY25 will likely be among key areas of investor interest, Goldman Sachs added.