Canaccord Genuity’s Jonathan Dorsheimer today reiterates a Hold rating on shares of Universal Display (PANL), the maker of organic light-emitting diode (OLED) technology, after taking a tour of Asia-Pacific last week to gauge OLED demand.
He argues it’s not clear when the company may conclude a new licensing agreement with LG Display (LPL), which would be a new source of revenue.
“We had the opportunity to meet with LG�s technical team, and body language would suggest that resigning a new license or royalty is not imminent,” writes Dorsheimer.
“While a new long-term agreement is baked into our estimates, the announcement of such an agreement is a likely positive catalyst for UDC�s stock, which exhibits strong spells of momentum trading.”
Those licensing deals have been strong catalysts for the stock: PANL shares jumped 24% the morning after the company announced a licensing deal with Samsung Electronics (SSNLF) back in August.
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