BUZZ - Universal Display shares fall after Citi downgraded rating
路透社2026/10/08 12:06On October 8, shares of OLED materials company Universal Display (OLED.O) fell by 4.5% in pre-market trading to $73.8. Citigroup downgraded Universal Display from “Neutral” to “Sell” and lowered its price target from $85 to $71. The new target price implies about an 8% downside from the previous closing price. The brokerage pointed out the continued weakness in the smartphone market and delays in the adoption of blue OLED technology. Citigroup also noted that high memory costs and weak demand for mid- and low-end smartphones may continue to drag down sales of OLED materials. Out of 10 brokerages, seven rate the stock as “Buy” or higher, and three rate it as “Hold.” The median price target is $117.5. As of the previous trading day's close, the stock had fallen a cumulative 33.88% so far this year.
October 8 - ** Shares of OLED materials company Universal Display (OLED.O) fell 4.5% in pre-market trading to $73.8
** Citigroup downgraded Universal Display from "Neutral" to "Sell" and lowered its target price from $85 to $71
** The new target price suggests there is still about 8% downside from the previous closing price
** The brokerage pointed out continued weakness in the smartphone market and delays in the adoption of blue OLED technology
** Citigroup noted that persistently high memory costs and weak demand for mid- to low-end smartphones may continue to weigh on OLED material sales
** Out of 10 brokerages, 7 rate the stock "Buy" or higher, while 3 rate it "Hold"; the median target price is $117.5
** As of the previous trading day's close, the stock has declined 33.88% year to date
(To assist non-English speakers, Reuters has automatically translated its report into several other languages. As automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of the translated text, which is provided for reader convenience only. Reuters accepts no liability for any damage or loss arising from use of the automated translation function.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Germany: Gradual recovery with energy risks – Deutsche Bank
US Stock Market Movement | Optical Communication Concept Stocks Mostly Fall, Applied Optoelectronics (AAOI.US) Down Over 5%
On Thursday, optical communication concept stocks fell across the board, with Applied Optoelectronics (AAOI.US) down more than 5%.
BUZZ-Broker Opinion: Levi's explores new growth avenues beyond its jeans business
October 8 – Levi Strauss (LEVI.N) shares fell about 4% in early trading to $18.79. Boosted by tariff rebates and strong expected demand for high-end jeans and sweaters during the holiday season, the company raised its annual earnings outlook on Wednesday. The median price target among the 16 brokers covering the stock is $26.50, according to data compiled by LSEG. Business diversification is starting to show results. Barclays noted that Levi's expansion beyond jeans is paying off, with tops, women's wear, and emerging lifestyle categories contributing about half of the company’s growth, while it remains the leader in the U.S. jeans market. JPMorgan (rating: "Overweight", price target: $33) believes the slowdown in the direct-to-consumer business is only temporary, mainly due to hot weather in Europe and a misjudgment of U.S. jeans trends, as the business has already started to rebound in this quarter. BTIG (rating: "Buy", price target: $27) said improved demand trends and strong performance in wholesale, international markets, and new categories support a more optimistic outlook for the holiday season and 2027. Needham ("Buy", price target: $28) noted that the temporary weakness in Levi's own stores and website seems to have started to reverse, while growth from tops, women's wear, and other non-jeans categories indicates the brand’s dependence on jeans is declining.
US Stock Market Movements | Oil stocks generally rise, BP (BP.US) up over 3%
On Thursday, oil stocks generally rose, with BP (BP.US) up more than 3%.
Crypto prices
More
