Analysts lifted their price targets on Corning Inc (NYSE:GLW) post Q4 results.
- Barclays analyst Tim Long raised the price target on Corning to $52 from $47 (26% upside) and reiterated an Overweight rating on the shares.
- The company's results and guidance were above expectations, with continued strength in optical and outperformance in life sciences and Hemlock boosting results.
- JPMorgan analyst Samik Chatterjee raised the price target to $50 from $45 (22% upside) and maintained an Overweight.
- Corning "once again bucked the reoccurring negative sentiment" that was building into the print as it demonstrated resilient sales results and earnings despite facing gross margin headwinds.
- Goldman Sachs analyst Rod Hall upgraded Corning from Neutral to Buy and raised the price target to $50 from $38.
- Price Action: GLW shares traded higher by 4.92% at $41.17 on the last check Thursday.
