Corning price target raised to $127 from $103 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Corning (GLW) to $127 from $103 and keeps an Equal Weight rating on the shares. On the back of increasing speed and investment in AI data centers, the firm’s base case is that optical markets are set to grow to $65B-plus by 2028 from about $30B in 2025, the analyst tells investors. As traditional networks reach their limits, new optical technologies are poised for adoption, potentially adding $23B in total addressable market and taking the industry to about $90B, the analyst added.