Oppenheimer analyst Andrew Uerkwitz lowered his price target for Universal Display to $115 from $120 as his recent channel checks on mobile and display supply chain resonate with well reported bear sentiment on consumer electronics. The analyst believes the lack of market growth and compelling new features will likely haunt suppliers as well as device makers for another year. Wider adoption of in-display fingerprint in 2019 should support continuous share gains of Universal Display on mobile, he contends, adding that for TV, however, weak macro and larger supplies of 65-inch-andabove LCD will likely pressure Universal Display TV near-term. He reiterates an Outperform rating on the shares.