Corning price target raised to $72 from $55 at Oppenheimer

Oppenheimer raised the firm’s price target on Corning (GLW) to $72 from $55 and keeps an Outperform rating on the shares following quarterly results. The firm notes Q3 guidance implies revenue growth of 13% year-over-year and EPS growth of 21% year-over-year. Oppenheimer believes Corning is far from running out of meaningful growth drivers to achieve its Springboard plan. Moreover, the company may also come across new growth opportunities outside of its Springboard plan, from potential partners looking to take advantage of U.S.-based manufacturing presence.