Corning (GLW – Research Report), the Basic Materials sector company, was revisited by a Wall Street analyst today. Analyst Meta Marshall from Morgan Stanley maintained a Hold rating on the stock and has a $49.00 price target.
Meta Marshall has given his Hold rating due to a combination of factors that reflect both opportunities and uncertainties surrounding Corning’s business. While there is a significant opportunity in the optical segment, particularly with the potential for growth in Enterprise Fiber, there are also considerable uncertainties. These include the impact of tariffs, government funding initiatives, and the mix of training and inference in data centers, which make it difficult to focus solely on the fiber opportunity.
Moreover, despite the stock becoming more attractive after a recent pullback, the volatility of Corning’s business on a quarter-to-quarter basis remains a concern. The uncertainty in consumer-related segments such as Display, Environmental, and Specialty Materials further complicates the outlook. Although there might be some positive adjustments in Enterprise Fiber estimates, the overall uncertainty and lack of significant changes in expectations lead to a cautious stance, resulting in a Hold rating.