Corning price target lowered to $52 from $53 at Barclays

Barclays lowered the firm’s price target on Corning (GLW) to $52 from $53 and keeps an Equal Weight rating on the shares following quarterly results. Optical again drove the beat with Enterprise up over 90% year-over-year, though the firm expects Enterprise growth to moderate somewhat this year on the tougher comparable sales. Given the continued outperformance in Optical, Barclays expects management to raise their 25% Enterprise CAGR through FY27 to about 30%. The firm is also lowering its FY25 revenue and EPS estimates to account for the Display business pricing actions and volume assumptions for the year, as well as weaker assumptions for Environmental, Specialty, and Life Sciences.