Brigantine Advisors Positive on Corning (NYSE:GLW), Universal Display (Nasdaq:PANL)

Saying the chrystal cycle is nearing a bottom, Brigantine Advisors believes those benefiting the most will be Corning (NYSE:GLW) and Universal Display (Nasdaq:PANL).

Brigantine said, "Yesterday, DisplaySearch released 1H January 2011 panel pricing, Samsung provided 2011 capex guidance and Corning officially announced its first LCD TV Gorilla cover glass win.

"Implications: Panel pricing data neutral for LCD industry, but we believe that the crystal cycle is approaching a 'bottom.' We maintain our preference for LCD glass leader, Corning (NYSE: GLW)(BUY-rated, $22 PT). Samsung’s 2011 capex big winner is OLED, which we believe is positive for Universal Display (Nasdaq: PANL)(HOLD). The capex forecast of KRW5.4 trillion (US $4.83 billion) is large, but not terribly surprising considering SMD’s (Samsung Mobile Display) OLED leadership and open discussions of its 5.5G fab plans and its intention to build an 8G fab. Corning’s first TV cover glass win was announced, which believe is positive as Gorilla glass revenue momentum continues to expand."

Corning was trading at $19.35, up $0.37, or 1.95 percent, as of 12:37 PM EST. Universal Display was trading at $35.00, up $0.11, or 0.32 percent.