5 Stocks Receiving a Massive Vote of Approval From Wall Street Analysts

02. Universal Display Corporation (NASDAQ:OLED)

Price Reaction after the Upgrade: +5.82 (+3.14%)

On December 18, BofA Securities analyst Dah-Yeon Rhee executed a significant upgrade for Universal Display Corporation (NASDAQ:OLED), shifting the stock’s rating from Neutral to a more positive Buy. Concurrently, the analyst raised the price target from $160 to $250. This development is situated within the technology sector, specifically in the display and lighting industry, where Universal Display Corporation (NASDAQ:OLED) is recognized as a key player. The upgrade by BofA Securities reflects Rhee’s optimistic outlook on Universal Display Corporation (NASDAQ:OLED) future performance within its industry. The shift from Neutral to Buy suggests that the analyst believes the stock has the potential for better-than-average performance compared to the broader market.

The assigned price target of $250.00 provides investors with a specific benchmark, offering insight into the analyst’s expectations for the stock’s future valuation. The notable price reaction after the upgrade, indicated by a 5.82 (3.14%) increase, underscores the market’s favorable response to BofA Securities’ upgraded stance on Universal Display Corporation (NASDAQ:OLED).