Gabelli & Co Maintains Buy, $99 Target on Universal Display

Gabelli & Co reiterates its Buy rating and $99 PMV for 2012 on Universal Display Corporation (NASDAQ: PANL) as the company appears well positioned on AMOLED displays.

Gabelli says, “Samsung continues to champion AMOLED display and exhibits strong marketing activities of its AMOLED display smartphones, especially its Samsung Galaxy flagship. We believe Universal Display's phosphorescent emitter materials, the only commercially viable materials for AMOLED displays, are well positioned to be the emitter materials used in IGZO oxide semiconductor technology.”

PANL closed at $40.25 per share on Thursday.