Analysts now see the display-technology company's outlook as "de-risked."
Shares of Universal Display Corp. were popping nearly 6% in Friday afternoon trading after the maker of display technologies easily topped earnings and revenue expectations for its latest quarter.
While the company’s 2023 outlook, issued Thursday afternoon, fell short of the consensus view, Oppenheimer analyst Martin Yang noted that it implied flat materials sales for the year, which lined up with what some on the buy side were anticipating. Needham’s James Ricchiuti wrote that Universal Display’s OLED forecast was “soft,” but “it was not completely unexpected given the current environment.”
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