Universal Display falls after Citi cuts rating

Universal Display

08/10/2026 12:57

** Shares of OLED materials firm Universal Display OLED.O fall 4.5% to $73.8 premarket 
** Brokerage Citigroup downgrades Universal Display to "sell" from "neutral"; cuts PT to $71 from $85
** New PT implies about 8% downside to last close
** Brokerage cites continued smartphone market weakness and delayed adoption of blue OLED technology
** Elevated memory costs and weak low- and mid-tier smartphone demand could continue to weigh on OLED material volumes, Citi says
** 7 of 10 brokerages rate the stock "buy" or higher, and 3 "hold"; their median PT is $117.5
** Up to last day's close, stock had fallen 33.88% YTD 

 (Reporting by Darshan Kumar in Bengaluru)
 ((darshan.kumar@thomsonreuters.com))