Deutsche Bank Sets Lofty Price Target for OLED Stock

Deutsche Bank thinks Universal Display can set new records in the coming months

by Patrick Martin

Published on Aug 30, 2017 at 10:09 AM

Analysts are weighing in on defense stock AeroVironment, Inc. (NASDAQ:AVAV), Samsung Electronics supplier Universal Display Corporation (NASDAQ:OLED), and retailer Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI). Here's a quick roundup of today's brokerage notes on shares of AVAV, OLED, and OLLI.

AeroVironment Soars After Encouraging Earnings Report

Aerovironment stock is up 14.5% to trade at $45.05 -- an annual high -- after the company reported better-than-expected quarterly results. The upbeat report prompted at least three brokerages to raise their price targets, including a hike to $40 from $35 at Canaccord Genuity. AVAV stock has had an excellent year, up 68%. Analysts remain skeptical, however. All five of the brokerages covering AVAV stock rate it a tepid "hold," suggesting there's potential for additional bullish brokerage attention in the near term. 

Deutsche Bank Sets Lofty Target For Universal Display

Universal Display stock is up 5% to trade at $116.71, after Deutsche Bank initiated coverage with a "buy" rating, as well as a price target of $135. The new target implies expected upside of about 16% from OLED's current price, and stands in uncharted territory for the stock. The security has more than doubled year-to-date, and is now on pace to take back the all-important 50-day moving average. 

Despite Universal Display's positive price action, short sellers continue to pile on. Short interest has increased by 15.8% during the last two reporting periods, and represents a healthy 8% of OLED's total available float. 

OLLI Earnings Beat Prompts Round Of Price-Target Hikes

Ollie's Bargain Outlet stock is down 1% to trade at $43.00, despite reporting sales and earnings above analyst expectations. As a result, no fewer than three brokerages raised their price targets, including to $50 from $48 at Jefferies. OLLI stock has added 66% year-over-year, and recently hit a record high of $46.08 on Aug. 1. 

There is reason to believe the equity can rise even more. While short interest has decreased in recent weeks, it still represents 14% of Ollie's total available float. Furthermore, it would take more than 14 days for the shorts to fully cover their positions. This represents a major source of potential buying power that could provide OLLI with tailwinds.

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