Corning, Inc. (GLW)

Corning (GLW; $48.00; O/P) seems to be moving quickly to address recently raised concerns from the European Commission (EC) around the company’s position in the cover glass market. Recall, the EC announced earlier this month…

Last Friday (11/8), the U.S. Department of Commerce announced it signed a preliminary memorandum of terms with Corning (GLW; $48.90; O/P) to provide up to $32mm in direct funding under the U.S. CHIPS and Science…

We think yesterday’s Q3 results and guidance from Lumen Technologies (LUMN; $8.87; NR) highlighted the Optical Technologies sales and profits tailwinds (30%+ of 2024E sales and nearly 40% of profits) that Corning (GLW; $48.30; O/P)…

We reiterate our Outperform and raise our target from $53 to $60 on the shares of Corning (GLW; $49.03) after the company produced healthy “core” Q3 EPS leverage it sees continuing into Q4E, led by…

Corning (GLW; $46.84; O/P) reported Q3 “core” EPS of $0.54, which was in line with our $0.54 and a penny ahead of the Street’s $0.53 on somewhat better than expected core sales ($3,733mm vs. our…

This morning, the U.S. Department of Commerce announced that it signed a non-binding preliminary memorandum of terms with Corning’s (GLW; $47.08; O/P) Hemlock Semiconductor business (9% of 2024E sales) to provide up to $325mm in…

The shares of Corning (GLW; $46.62; O/P) have rebounded 23% since early-August, exceeding prior highs of May 2021 to levels last seen in 2000, which of course “raises the bar” for the stock into its…

Recent news flow out of Corning (GLW; $44.67; O/P) provides further support for the idea that the company is well positioned to continue to re-purpose its glass manufacturing assets towards the production of newer and…

We reiterate our Outperform on the shares of Corning (GLW; $44.43) after visiting its largest optical fiber manufacturing facility yesterday (9/19) in Concord, NC. During our visit we heard presentations from and had offline discussions…

We reiterate our Outperform and $50 target on the shares of Corning (GLW; $40.26) after hosting a virtual investor meeting with Ann Nicholson, Vice President of Investor Relations, on Wednesday (8/14). Most importantly for us,…

The shares of Corning (GLW; $39.74; O/P) traded down 7% today after this morning’s Q2 print and are now down 14% in just the past two weeks as its early-July positive pre-announcement “lost some of…

Corning (GLW; $42,68; E/W) reported Q2 “core” EPS of $0.47, which was in line with our recently raised $0.47 and slightly ahead of the Street’s $0.46 on core sales of $3,604mm (vs. our $3,600mm and…

We think the “bar has been raised” for Corning (GLW; $45.84; O/P) into its Q2 results and outlook, scheduled for July 30th (before market), given how well received its recent positive Q2 update was received…

We raise our above consensus 2024/2025E EPS for Corning (GLW; $38.44; O/P) from $2.00/2.33 to $2.07/2.40 on the back of this morning’s positive Q2 guidance update. By comparison, we note that the Street was only…

We are raising our rating on the shares of Corning (GLW; $37.25) from Equal-Weight to Outperform and set a $45 target after joining an extensive facility visit to its Sullivan Park Research & Development campus…