Corning, Inc. (GLW)

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…

We adjust 2024/2025E EPS for Corning (GLW; $33.35; E/W) from $1.95/$2.30 to $2.00/$2.30 after some Q1 EPS upside with Q2E guidance that encompassed our and Street’s bottom-line thinking. Q1 revenue and Q2E sales targets were…

Corning (GLW; $31.78; E/W) reported Q1 “core” EPS of $0.38, which was ahead of our consensus matching $0.35 on core sales upside ($3,258mm vs. our $3,100mm and the Street’s $3,118mm). Recall, GLW targeted Q1 sales…

At 16.1X our slightly above consensus 2024E EPS, we see the risk/reward on the shares of Corning (GLW; $31.49; E/W) to be fairly balanced ahead of its Q1 results and guidance on Tuesday, April 30th…

We maintain our EPS forecasts on Corning (GLW; $31.91; E/W) following our review of its recently filed 10-K, albeit with somewhat of a downward bias to our current modeling. This is due to a few…

We adjust 2024E EPS for Corning (GLW; $33.30; E/W) from $2.00 to $1.95 after Q4 results lived up to expectations but Q1E guidance was on the disappointing side. GLW also “called the bottom” with its…