Universal Display price target lowered to $160 from $220 at BofA

BofA analyst Simon Woo lowered the firm’s price target on Universal Display (OLED) to $160 from $220 and keeps a Buy rating on the shares. The firm sees U.S. tariffs and slow progress in blue color material commercialization as “the new discount factors,” but reiterates a Buy due to the company’s high margin profile and strong net-cash position.