Oppenheimer raised the firm’s price target on Corning (GLW) to $58 from $51 and keeps an Outperform rating on the shares. The firm notes Corning reported Q3 core sales/EPS of $3.73B/$0.54, vs. Street’s expectations of $3.72B/$0.53. Q4 guidance was also ahead of Street expectations, implying revenue growth of 15% year-over-year and EPS growth of 41% year-over-year. The positive surprises in results and guidance are driven by the Optical segment, Oppenheimer adds.
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Read More on GLW:
- Corning price target raised to $60 from $55 at JPMorgan
- Corning Inc. Reports Strong Q3 2024 Results
- Corning price target raised to $54 from $49 at Deutsche Bank
- Corning price target raised to $53 from $40 at Barclays
- Corning price target raised to $56 from $51 at BofA
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