In a brief note to clients this morning, Canaccord Genuity’s Jonathan Dorsheimer today offers clients a brief note on recent meetings with reps from the electronics supply chain in Asia regarding light-emitting diodes (LED), writing that his meetings reinforce his Hold rating and $36 price target on shares of Universal Display (PANL).
Dorsheimer’s meeting with Samsung Electronics’s (005930KS) Samsung Mobile unit, with LG Display (LPL) and with AU Optronics (AUO) suggest to him revealed no change in yields for either display products of lighting products using organic light-emitting diodes, he writes.
He also writes he “did not get the feeling that long-term agreements with either LG or AUO were imminent,” without elaborating.
PANL shares today are up 73 cents, or 2%, at $37.35.
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