Bank of America Forecasts Strong Price Appreciation for Corning (NYSE:GLW) Stock

Key Points

• Bank of America raised its price target on Corning to $155 (from $144) and kept a "buy" rating, implying about a 15.43% upside
• Shares jumped 7.8% to $134.28 after the coverage changes; Corning posted a Q4 EPS beat with revenue up 13.9%, set Q1 guidance of $0.660–$0.700 EPS, but carries a high valuation (P/E ~72.9).
• Insider selling was notable this quarter (CEO sold ~137,514 shares and an EVP sold ~15,366 shares), while institutional ownership remains high at about 69.8% as large funds materially increased positions.

Corning (NYSE:GLW - Get Free Report) had its price target boosted by analysts at Bank of America from $144.00 to $155.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the electronics maker's stock. Bank of America's price objective would indicate a potential upside of 15.43% from the company's current price.

GLW has been the subject of several other reports. Mizuho set a $145.00 target price on shares of Corning in a research report on Monday, February 23rd. HSBC restated a "buy" rating and set a $135.00 price target on shares of Corning in a report on Friday, February 13th. Barclays set a $100.00 price objective on shares of Corning in a research note on Thursday, January 29th. Citigroup upped their price objective on shares of Corning from $120.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Finally, Wolfe Research set a $130.00 target price on Corning and gave the company an "outperform" rating in a report on Tuesday, January 27th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $132.67.

Corning Stock Up 7.8%

Shares of GLW traded up $9.70 during midday trading on Monday, reaching $134.28. 3,359,949 shares of the stock were exchanged, compared to its average volume of 11,031,235. Corning has a 12-month low of $37.31 and a 12-month high of $162.10. The firm has a 50 day simple moving average of $122.00 and a 200-day simple moving average of $97.66. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The company has a market cap of $115.21 billion, a price-to-earnings ratio of 72.93, a P/E/G ratio of 1.97 and a beta of 1.04.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.35 billion. During the same quarter in the previous year, the business posted $0.57 EPS. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Research analysts forecast that Corning will post 2.33 EPS for the current year.

Insider Buying and Selling at Corning

In other Corning news, EVP Lewis A. Steverson sold 15,366 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the completion of the sale, the executive vice president owned 3,461 shares in the company, valued at approximately $450,691.42. This trade represents a 81.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the sale, the chief executive officer directly owned 750,585 shares in the company, valued at $116,618,391.45. The trade was a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 233,201 shares of company stock valued at $32,614,558 over the last quarter. Company insiders own 0.32% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Corning by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker's stock valued at $8,693,247,000 after purchasing an additional 580,678 shares during the last quarter. State Street Corp grew its stake in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock worth $3,035,836,000 after buying an additional 439,883 shares during the last quarter. Geode Capital Management LLC grew its stake in Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock worth $1,781,250,000 after buying an additional 517,067 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock worth $1,478,959,000 after buying an additional 5,831,873 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock valued at $1,358,211,000 after acquiring an additional 3,848,540 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Company Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.

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