LG Display Co Ltd. (ADR) (NYSE:LPL), one of the world’s top manufacturers and suppliers of OLEDs, and other flexible displays, saw its stock soar this morning in early trading.
The Seoul-based company is gearing up for what could be quite the holiday shopping season for large screen TVs. With LG Electronics (LG) unveiling two of the largest OLED displays on the planet at Incheon International Airport in South Korea, investors seemingly have jumped at the opportunity to grab some shares.
The large displays installed at the airport feature 140 individual 55-inch curved OLED panels, which together form a large screen 8 meters across and 13 meters tall.
The stock is up 7.14% or $0.67 after the positive news, hitting $10.06 per share. About 127,989 shares traded hands. LPL has declined 37.06% since April 22, 2015 and is downtrending. It has underperformed by 36.05% the S&P500.
Out of 6 analysts covering LG Display (NYSE:LPL), 1 rate it “Buy”, 1 “Sell”, while 4 “Hold”. This means 17% are positive. $13.50 is the highest target while $11 is the lowest. The $11.67 average target is 16.00% above today’s ($10.06) stock price. LG Display was the topic in 8 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Macquarie Research downgraded the stock on October 22 to “Neutral” rating. Bank of America downgraded the shares of LPL in a report on September 23 to “Underperform” rating. Finally, JP Morgan downgraded the stock to “Neutral” rating in a July 23 report.
LG Display Co., Ltd. manufactures thin-film transistor liquid crystal display , organic light emitting diode (OLED) and other display panel technologies. The company has a market cap of $7.49 billion. It makes display panels in a range of sizes and specifications primarily for use in televisions, notebook computers, desktop monitors, tablet computers and various other applications, including mobile devices. It has 6.11 P/E ratio. The Firm also offers high-definition (HD) television panels.