Universal Display: Surges after co forecast FY revenue above estimates

Universal Display

31/10/2019 14:47

** Shares of mobile display maker  OLED.O  surges 12.89% to
$196.20 in morning trading; its highest gain in more than eight
months 
    ** Forecasts FY 2019 revenue between $400 mln and $410 mln,
above avg. analysts' est. of $383.3 mln
    ** Reports third-quarter revenue of $97.7 mln, beating avg.
analysts' estimate of $85.9 mln, according to IBES data from
Refinitiv 
    ** OLED profit 78 cents/shr, blowing past estimates of 58
cents/shr
    ** Wall Street largely cautious on stock with avg. rating
"hold"; median PT is $210
    ** Including session's gains, stock has more than doubled
this year after falling ~46% in 2018 

 (Reporting by Neha Malara in Bengaluru)
 ((Neha.Malara@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 0344;))