BUZZ - Universal Display shares fall after Citi downgraded rating

路透社2026/10/08 12:06

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On October 8, shares of OLED materials company Universal Display (OLED.O) fell by 4.5% in pre-market trading to $73.8. Citigroup downgraded Universal Display from “Neutral” to “Sell” and lowered its price target from $85 to $71. The new target price implies about an 8% downside from the previous closing price. The brokerage pointed out the continued weakness in the smartphone market and delays in the adoption of blue OLED technology. Citigroup also noted that high memory costs and weak demand for mid- and low-end smartphones may continue to drag down sales of OLED materials. Out of 10 brokerages, seven rate the stock as “Buy” or higher, and three rate it as “Hold.” The median price target is $117.5. As of the previous trading day's close, the stock had fallen a cumulative 33.88% so far this year.

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October 8 - ** Shares of OLED materials company Universal Display (OLED.O) fell 4.5% in pre-market trading to $73.8

** Citigroup downgraded Universal Display from "Neutral" to "Sell" and lowered its target price from $85 to $71

** The new target price suggests there is still about 8% downside from the previous closing price

** The brokerage pointed out continued weakness in the smartphone market and delays in the adoption of blue OLED technology

** Citigroup noted that persistently high memory costs and weak demand for mid- to low-end smartphones may continue to weigh on OLED material sales

** Out of 10 brokerages, 7 rate the stock "Buy" or higher, while 3 rate it "Hold"; the median target price is $117.5

** As of the previous trading day's close, the stock has declined 33.88% year to date

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Latest Update October 8 – Pacira BioSciences (PCRX.O) shares surged by 44%, hitting a more than three-year high at $36.30. If the rally holds, PCRX is poised for its largest single-day gain on record. Pharmaceutical company Viatris (VTRS.O) will acquire Pacira BioSciences in a $1.65 billion cash deal, offering $36.50 per share. The offer represents a premium of approximately 44.8% over Pacira’s recent closing price of $25.20. The transaction will add Pacira’s non-opioid pain medications Exparel and Zilretta to Viatris' product portfolio. Viatris shares fell 2.6% to $17.04. JPMorgan stated: “We believe this acquisition will not significantly alter VTRS' overall financial profile in the short or long term, and expect Exparel’s sales to gradually decline post-2030 due to generic market entry.” Both parties expect to complete the transaction by the end of 2026. Including intraday fluctuations, PCRX shares have risen 40.2% year-to-date, while VTRS has gained 36.8%. (For the convenience of non-English speakers, Reuters provides automated translations of its reports into several other languages. As automated translation may contain errors or lack the necessary context, Reuters does not guarantee the accuracy of automated translated texts and provides them for readers’ convenience only. Reuters assumes no liability for any damage or losses resulting from the use of automated translation.)

路透社•2026/10/08 16:11