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February 25, 2013
09:43 EDTPANLUniversal Display price target lowered to $16 from $18 at Piper Jaffray
Piper Jaffray earlier today lowered its price target for Universal Display to $16 and reiterated an Underweight rating on the stock. The firm said its talks with OLED industry experts indicated that Samsung will adopt Universal Display's green emitter and host on its next generation Galaxy S4 device. However, Piper notes the timing of the S4 launch is not yet determined and that its checks show Samsung will use a combination of green host including one from Universal Display and one from another vendor. Shares of Universal Display are down 12%, or $3.77, to $29.00 in early trading.
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