Fintel reports that on January 30, 2025, HSBC upgraded their outlook for Corning (NYSE:GLW) from Hold to Buy.
Analyst Price Forecast Suggests 11.54% Upside
As of January 29, 2025, the average one-year price target for Corning is $55.54/share. The forecasts range from a low of $46.46 to a high of $63.00. The average price target represents an increase of 11.54% from its latest reported closing price of $49.80 / share.
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The projected annual revenue for Corning is 16,519MM, an increase of 25.93%. The projected annual non-GAAP EPS is 2.93.
What is the Fund Sentiment?
There are 2,056 funds or institutions reporting positions in Corning. This is an increase of 75 owner(s) or 3.79% in the last quarter. Average portfolio weight of all funds dedicated to GLW is 0.27%, an increase of 5.73%. Total shares owned by institutions decreased in the last three months by 0.32% to 684,579K shares. 
The put/call ratio of GLW is 0.24, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 39,225K shares representing 4.58% ownership of the company. In its prior filing, the firm reported owning 39,092K shares , representing an increase of 0.34%. The firm increased its portfolio allocation in GLW by 14.41% over the last quarter.
Price T Rowe Associates holds 31,952K shares representing 3.73% ownership of the company. In its prior filing, the firm reported owning 27,476K shares , representing an increase of 14.01%. The firm increased its portfolio allocation in GLW by 30.03% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 24,428K shares representing 2.85% ownership of the company. In its prior filing, the firm reported owning 24,388K shares , representing an increase of 0.17%. The firm increased its portfolio allocation in GLW by 9.34% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 20,170K shares representing 2.36% ownership of the company. In its prior filing, the firm reported owning 19,787K shares , representing an increase of 1.90%. The firm increased its portfolio allocation in GLW by 9.02% over the last quarter.
Geode Capital Management holds 17,937K shares representing 2.09% ownership of the company. In its prior filing, the firm reported owning 18,136K shares , representing a decrease of 1.11%. The firm decreased its portfolio allocation in GLW by 44.50% over the last quarter.
Corning Background Information
(This description is provided by the company.)
Corning is one of the world's leading innovators in materials science, with a 169-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display, automotive, and life sciences.
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