Corning (GLW) stock was down on Wednesday following a series of analyst updates after the display technologies and optical communications company’s latest earnings report.
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Let’s check out that updated analyst coverage below.
- Four-star Truist Financial analyst Matthew Niknam maintained a Hold rating and raised the price target to $149 from $125, implying a possible 1% downside.
- Four-star UBS analyst Joshua Spector reiterated a Buy rating and increased the price target to $179 from $171, suggesting a potential 18.94% upside.
- Five-star Barclays analyst Tim Long kept a Hold rating and maintained a $149 price target, representing a possible 1% downside.
- Five-star Susquehanna analyst Mehdi Hosseini reiterated a Buy rating and boosted the price target to $180 from $125, implying a potential 19.6% upside.
- Five-star Citi analyst Asiya Merchant maintained a Buy rating and raised the price target to $175 from $170, suggesting a possible 16.28% upside.
- Five-star J.P. Morgan analyst Samik Chatterjee kept a Hold rating and maintained a $175 price target, representing a potential 16.28% upside.
- Five-star Mizuho Securities analyst John Roberts reiterated a Buy rating and maintained a $190 price target, implying a possible 26.25% upside.
- Five-star Bank of America analyst Wamsi Mohan maintained a Buy rating and kept a $186 price target, suggesting a potential 23.59% upside.
Hosseini reevaluated the company and increased the firm’s outlook due to an upcoming catalyst. The analyst said he expects the company’s Analyst Day on May 6 to be more significant for its earnings. He also said this should be when the company provides more details on its Springboard program.
Corning Stock Movement Today
Corning stock was down 2.01% on Wednesday but was still up 71.61% year-to-date. The stock has also rallied 244.86% over the past 12 months.
GLW stock trading activity today was muted, as some 226,000 shares changed hands, compared to a three-month average daily trading volume of about 11.54 million shares.
Is Corning Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Corning is Moderate Buy, based on six Buy and four Hold ratings over the past three months. With that comes an average GLW stock price target of $165.80, representing a potential 9.9% upside for the shares.
