Analysts lifted their price targets on Corning Inc. post Q4 results.
Barclays analyst Tim Long raised the price target on Corning to $52 from $47 (26 percent 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 percent 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.
By Anusuya Lahiri
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