Corning (NYSE:GLW) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Corning to “Buy” from “Hold.” The broader analyst consensus is “Moderate Buy,” with 13 Buy ratings, seven Holds, and an average price target of $177.56.
• Corning’s latest quarter exceeded expectations, with EPS of $0.78 versus $0.76 expected and revenue of $4.74 billion, up 17.1% year over year. Management guided to third-quarter 2026 EPS of $0.85–$0.89.
• Shares opened at $156.62, while the company trades at a relatively high P/E ratio of 71.51. AI-related demand for optical fiber and data-center infrastructure is a key growth catalyst, though valuation and a recent executive stock sale remain potential risks.

Corning (NYSE:GLW - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

Other research analysts have also recently issued reports about the company. Truist Financial upped their price objective on Corning from $175.00 to $182.00 and gave the company a "buy" rating in a report on Friday, October 2nd. Bank of America cut their target price on Corning from $243.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, July 29th. China Renaissance upgraded Corning from a "hold" rating to a "buy" rating and set a $238.00 target price on the stock in a research report on Tuesday, September 8th. The Goldman Sachs Group reaffirmed an "outperform" rating on shares of Corning in a research note on Tuesday, September 15th. Finally, Sanford C. Bernstein started coverage on Corning in a report on Wednesday, September 30th. They set a "market perform" rating and a $140.00 price target for the company. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $177.56.

Corning Trading Up 2.5%

Shares of GLW opened at $156.62 on Friday. Corning has a 12-month low of $77.39 and a 12-month high of $271.78. The firm has a market capitalization of $134.91 billion, a P/E ratio of 71.51, a P/E/G ratio of 1.95 and a beta of 1.13. The firm has a 50-day moving average price of $155.77 and a 200 day moving average price of $168.56. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. Corning's quarterly revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Sell-side analysts forecast that Corning will post 3.28 EPS for the current year.

Insider Buying and Selling

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the company's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the transaction, the executive vice president directly owned 15,052 shares in the company, valued at $2,277,217.08. This represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corning

Several institutional investors and hedge funds have recently modified their holdings of the company. Herbst Group LLC acquired a new position in Corning during the 2nd quarter worth approximately $4,474,000. Principal Financial Group Inc. lifted its holdings in shares of Corning by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker's stock valued at $121,483,000 after buying an additional 10,591 shares during the period. Wealthfront Advisers LLC boosted its stake in shares of Corning by 36.2% in the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker's stock valued at $12,567,000 after buying an additional 24,589 shares in the last quarter. Silverlake Wealth Management LLC purchased a new stake in shares of Corning in the second quarter valued at approximately $1,872,000. Finally, Atlas Wealth LLC grew its holdings in Corning by 137.8% during the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker's stock worth $1,642,000 after acquiring an additional 6,998 shares during the period. Hedge funds and other institutional investors own 69.80% of the company's stock.

Key Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: AI infrastructure demand is a key bullish theme. Analysts identify Corning’s optical fiber and communications components as beneficiaries of expanding data-center and high-speed networking investment, with rising backlogs potentially supporting future revenue growth. Buy GLW and CIEN to Gain More on AI Communication Component Space Rally
• Positive Sentiment: Growth-focused coverage continues to highlight Corning as a long-term opportunity because of its specialized glass and optical-fiber businesses serving major technology customers. Its recent earnings also showed strong momentum, with revenue up 17.1% year over year and earnings exceeding estimates. Why Corning Is a Top Growth Stock for the Long Term
• Positive Sentiment: Truist raised its price target on GLW from $175 to $182, signaling increased confidence in the company’s outlook. Corning also declared a $0.28 quarterly dividend, maintaining shareholder returns, although the indicated yield is modest at approximately 0.7%. Truist Raises Target for Corning
• Neutral Sentiment: Investors are awaiting Corning’s third-quarter 2026 results and guidance for evidence that AI-driven demand is translating into sustained growth. The company previously guided to third-quarter EPS of $0.85–$0.89. Corning Q3 2026 Earnings Expectations
• Neutral Sentiment: Bernstein reaffirmed a Hold rating, suggesting the expected growth may already be reflected in the stock’s valuation. Corning trades at a high earnings multiple, increasing sensitivity to any slowdown or disappointing guidance. Bernstein Reaffirms Hold Rating
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of Corning investors. Although the announcement does not establish wrongdoing, it adds headline and litigation risk that could weigh on sentiment. Pomerantz Investor Investigation

About Corning

Corning Incorporated NYSE: GLW is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.

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