LG Display Co. (LPL) Upgraded at Zacks Investment Research
LG Display Co. (NYSE:LPL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $15.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 13.81% from the stock’s previous close.
According to Zacks, “LG Display Co., Ltd., formerly known as LG Philips LCD Co., Ltd., primarily manufactures and sells thin film transistor liquid crystal display (TFT-LCD) panels. The Company supplies its products to original equipment manufacturers and multinational corporations. LG Display offers TFT-LCD panels in a range of sizes and specifications primarily for use in televisions, notebook computers, and desktop monitors, as well as for handheld application products, such as mobile phones; and medium and large size panels for industrial and other applications, including entertainment systems, portable navigation devices, e-paper, digital photo displays, and medical diagnostic equipment. LG Display Co., Ltd. is based in Seoul, the Republic of Korea. “
A number of other research firms have also issued reports on LPL. Sanford C. Bernstein lowered LG Display from an “outperform” rating to a “market perform” rating and set a $13.18 target price on the stock. in a research note on Friday, September 9th. They noted that the move was a valuation call. Bank of America Corp. raised LG Display from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 19th. Nomura raised LG Display from a “reduce” rating to a “neutral” rating in a research note on Tuesday, June 28th. Credit Agricole SA raised LG Display from a “sell” rating to an “outperform” rating in a research note on Wednesday, July 6th. Finally, Barclays PLC initiated coverage on LG Display in a research note on Tuesday, June 21st. They issued an “overweight” rating and a $14.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. LG Display currently has an average rating of “Hold” and a consensus target price of $12.82.
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LG Display (NYSE:LPL) opened at 13.18 on Wednesday. The stock has a market cap of $9.43 billion, a P/E ratio of 101.38 and a beta of 1.05. The stock has a 50 day moving average price of $13.16 and a 200 day moving average price of $12.05. LG Display has a 52-week low of $8.43 and a 52-week high of $14.36.
Several hedge funds have recently added to or reduced their stakes in LPL. Quantitative Systematic Strategies LLC increased its stake in LG Display by 11.2% in the second quarter. Quantitative Systematic Strategies LLC now owns 14,463 shares of the company’s stock worth $162,000 after buying an additional 1,462 shares during the last quarter. Wetherby Asset Management Inc. increased its stake in LG Display by 6.5% in the second quarter. Wetherby Asset Management Inc. now owns 27,200 shares of the company’s stock worth $315,000 after buying an additional 1,660 shares during the last quarter. World Asset Management Inc increased its stake in LG Display by 8.3% in the second quarter. World Asset Management Inc now owns 44,291 shares of the company’s stock worth $513,000 after buying an additional 3,400 shares during the last quarter. Shelton Capital Management increased its stake in LG Display by 17.5% in the second quarter. Shelton Capital Management now owns 47,000 shares of the company’s stock worth $545,000 after buying an additional 7,000 shares during the last quarter. Finally, BNP Paribas Arbitrage SA purchased a new stake in LG Display during the third quarter worth approximately $102,000. Institutional investors and hedge funds own 3.34% of the company’s stock.
LG Display Company Profile
LG Display Co, Ltd. manufactures thin-film transistor liquid crystal display (TFT-LCD), organic light emitting diode (OLED) and other display panel technologies. It manufactures 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.
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