LG Display Co. (LPL) Cut to “Market Perform” at Sanford C. Bernstein

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LG Display Co. (NYSE:LPL) was downgraded by investment analysts at Sanford C. Bernstein to a “market perform” rating in a research report issued on Friday.
Several other research analysts have also commented on LPL. Nomura raised shares of LG Display from a “reduce” rating to a “neutral” rating in a research note on Tuesday, June 28th. TheStreet downgraded LG Display from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Barclays PLC began coverage on LG Display in a research report on Tuesday, June 21st. They set an “overweight” rating and a $14.00 target price for the company. Zacks Investment Research downgraded LG Display from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research report on Tuesday, May 17th. Finally, Deutsche Bank AG upgraded LG Display from a “hold” rating to a “buy” rating in a research report on Friday, May 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $12.48.
Shares of LG Display (NYSE:LPL) opened at 13.09 on Friday. The company’s 50-day moving average is $13.76 and its 200 day moving average is $11.60. The stock has a market capitalization of $9.37 billion, a P/E ratio of 101.08 and a beta of 1.16. LG Display has a 12 month low of $8.43 and a 12 month high of $14.36.

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Other hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in LG Display by 17.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,882 shares of the company’s stock valued at $136,000 after buying an additional 1,771 shares during the last quarter. 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 valued at $162,000 after buying an additional 1,462 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in LG Display during the second quarter valued at $313,000. Bessemer Group Inc. purchased a new stake in LG Display during the first quarter valued at $992,000. Finally, NINE MASTS CAPITAL Ltd purchased a new stake in LG Display during the first quarter valued at $2,709,000. Hedge funds and other institutional investors own 3.39% of the company’s stock.
About LG Display
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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