Posted: September 13th, 2017

Universal Display Corporation: Go Long or Short?

Paper, Order, or Assignment Requirements

If anything to be used from an external source please include it in the reference, for a reason I cannot modify the number of references.

If you only had used one website/source then one reference is fine, if you had used more then include all the references used

Taking the role of Mathew Crown and using only the information presented within the case, prepare an investment memorandum that addresses the following seven topics:
1. Recommendation: Do you recommend long or short position and why? What is your target price? Potential upside, and time horizon for the investment?
2. Key statistics: provide a one page summary (with supporting materials attached as an appendix) that includes historical price performance, analysts targets, market capitalization, average volume, trading multiples, dividend yield, short interest, and key operating metrics.
3. Investment Thesis: articulate key points that support your long/short recommendation.
4. Investment risks: where might you be wrong and how much would that impact the recommendation? What are the mitigants that help you get comfortable with these risks?
5. Catalysts: What events in your holding period may push the stock price toward your target price as the street converged on your divergent view?
6. Valuation: Value the company based on DCF, relative valuation using comparable companies and precedent transactions (e.g. P/E, P/BV, EV/EBITDA) may also be useful. What are the key drivers of the valuation, and how sensitive is the valuation to these drivers? Which metrics does the street pay attention to for the company, and why?
7. Target price: based on your valuation, what is the target price and the associated upside against current prices in making an investment?

Do a SWOT analysis (strengths, weaknesses, opportunities, and threats) based on industry overview, the company overview and its competitors analysis.

You may provide/include whatever you believe is necessary to have a complete answer

Please use size 12 font, times new roman

On a rough estimate I would say 10 pages is needed, but it could be less and could be more. All that matters is that the answers above are answered and are well articulated.

Excel file for the calculation is needed for the valuation