Corning price target raised to $75 from $56 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Corning (GLW) to $75 from $56 and keeps an Equal Weight rating on the shares. Heading into the Q3 reports for the telecom and networking equipment sector, the firm prefers companies with higher margins and artificial intelligence exposure. Strong demand should continue as optical and networking helps “resolve bottlenecks” to getting greater graphics processing unit utilization, the analyst tells investors in a research note.