Corning initiated with a Hold at Truist

Truist initiated coverage of Corning (GLW) with a Hold rating and $125 price target Networking and Hardware represents the group most directly linked to elevated AI and cloud investment at a time when U.S. hyperscaler capex alone is forecasted to total about $700B in 2026, the analyst tells investors while rolling out coverage of the group. The firm, which favors a more selective approach to the stocks considering relatively higher valuations, names Arista Networks (ANET), Cisco (CSCO), HPE (HPE) and Motorola Solutions (MSI) among its favorites in the group.