Corning price target raised to $110 from $68 at Argus

Argus raised the firm’s price target on Corning (GLW) to $110 from $68 and keeps a Buy rating on the shares. The company posted Q3 revenue and earnings at record levels and above the high end of guidance and consensus estimates, led by continued strength in Optical Communications, the analyst tells investors in a research note. The management also expressed confidence and raised targets in its “Springboard” program and believes it can add from $4 billion to as much as $6 billion in annualized revenue over the next three years under the program, the firm added.