Shares of Universal Display Corp. OLED, +0.62% are up 0.4% in premarket trading Friday after Oppenheimer analyst Andrew Uerkwitz upgraded the stock to outperform from perform. He now has a $120 price target on shares, which closed at $101.32 in Thursday's session. "We see multiple positive catalysts coming in 2019 and 2020: OLED ramp in China, OLED TV, and possibly commercial blue emitter to be announced over the next two years," wrote Uerkwitz, who was previously concerned about lower-than-expected adoption of OLED screens in major markets. "We would be buyers on any near-term weakness related to license and royalty revenue uncertainties or poor 1Q18 results." Uerkwitz predicts that TVs and smartphones with OLED screens will continue to become more popular. Universal Display shares are down 41% so far this year, compared to a 3% gain for the Nasdaq Composite Index COMP, +0.49%