Gabelli Maintains Buy on Unversal Display

Gabelli is out with its report today on Universal Display (NASDAQ: PANL), maintaining Buy.

In a note to clients, Gabelli writes, "We attended the 2011 Display Conference in Los Angeles (the largest display industry event in North America) on May 17, 2011. The conference featured exhibitions and symposiums from leading display technology companies. We met Universal Display and various companies in the OLED supply chain. Based on the R&D progress and a growing number of active matrix OLED industry players at the conference, we are increasingly positive on the rapid adoption of OLED and Universal Display's growth opportunity. We continue to recommend purchase of shares."

Shares of PANL closed Monday at $43.62.