Gabelli Maintains Buy on Universal Display

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

In a note to clients, Gabelli writes, "Universal Display, headquartered in Ewing, New Jersey, owns several patents for organic LEDs and produces the phosphorescent materials used in production of advanced OLED displays. There has been speculation that Apple approached Samsung to source active matrix OLED displays for its next generation iPad. We expect to see AMOLED display tablets starting in 2012. We recommend purchase of Universal Display shares:"

Shares of PANL closed Wednesday at $44.85.