Corning price target raised to $93 from $72 at Citi

Citi analyst Asiya Merchant raised the firm’s price target on Corning (GLW) to $93 from $72 and keeps a Buy rating on the shares. The firm increased estimates across the connector space to reelect rising hyperscaler spending and improving margin commentary. Connectors should continue to see margin expansion from “robust” demand for connectivity solutions in artificial intelligence applications, the analyst tells investors in a research note.