Corning (NYSE:GLW) Stock Price Up 2.4% Following Analyst Upgrade

Key Points

• Corning shares rose 2.4% after Truist Financial raised its price target from $175 to $182 and maintained a “buy” rating.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average target of $174.53, despite recent target cuts from several firms.
• Corning’s growth outlook is supported by a multiyear fiber-supply agreement worth more than $3 billion with AT&T, while insider selling and legal-investigation headlines add risk.

Corning Incorporated (NYSE:GLW - Get Free Report)'s share price traded up 2.4% on Friday after Truist Financial raised their price target on the stock from $175.00 to $182.00. Truist Financial currently has a buy rating on the stock. Corning traded as high as $165.14 and last traded at $164.2010. Approximately 7,464,837 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 12,170,304 shares. The stock had previously closed at $160.42.

Several other equities research analysts have also recently commented on the company. Citigroup lowered their price target on Corning from $240.00 to $220.00 and set a "buy" rating for the company in a research note on Wednesday, July 29th. Barclays dropped their price target on shares of Corning from $180.00 to $129.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of Corning from a "buy" rating to a "hold" rating in a research note on Monday, August 24th. Oppenheimer decreased their price objective on shares of Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. Finally, UBS Group restated a "buy" rating and set a $196.00 target price on shares of Corning in a report on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.53.

Insider Buying and Selling

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Large AT&T fiber contract: Corning and AT&T signed a fiber and cable supply agreement valued at more than $3 billion. The multiyear deal is expected to support Corning’s Optical Communications business as AT&T expands U.S. broadband capacity and AI increases data-center and network demand. Corning and AT&T's $3 Billion Fiber Deal Reveals Where AI Spending Goes Next
• Positive Sentiment: Analyst price-target increase: Truist Financial raised its Corning target from $175 to $182 and maintained a “buy” rating, citing potential upside from the company’s growth opportunities. The revision reinforces bullish sentiment around fiber and AI infrastructure exposure.
• Positive Sentiment: Sector momentum: Corning advanced alongside strong gains in optical and AI-infrastructure suppliers such as Coherent and Lumentum, suggesting investors are broadly favoring companies positioned to benefit from accelerating data-traffic and connectivity spending. Optical and AI Infrastructure Stocks Advance
• Neutral Sentiment: New analyst coverage: Sanford C. Bernstein began coverage of Corning, potentially increasing institutional attention, although the initial rating and price target were not provided. Sanford C. Bernstein Begins Coverage on Corning
• Negative Sentiment: Legal and valuation risks: First Solar filed a patent-infringement lawsuit against JA Solar and a Corning subsidiary, creating potential litigation uncertainty. Separately, coverage highlighted Corning’s premium valuation and insider selling, which could limit further gains if growth expectations weaken. First Solar Files Patent-Infringement Lawsuit
• Negative Sentiment: Investor investigation: Pomerantz LLP announced an investigation into potential claims on behalf of Corning investors. The announcement does not establish wrongdoing, but it adds headline and legal risk around the stock. Pomerantz Investor Alert

Hedge Funds Weigh In On Corning

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atwood & Palmer Inc. bought a new position in Corning during the second quarter worth about $26,000. Rogco LP acquired a new position in shares of Corning in the 2nd quarter worth approximately $27,000. Evolution Wealth Management Inc. raised its holdings in shares of Corning by 58.8% in the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker's stock worth $33,000 after buying an additional 141 shares in the last quarter. Vermillion Wealth Management Inc. lifted its position in shares of Corning by 32.8% during the 4th quarter. Vermillion Wealth Management Inc. now owns 405 shares of the electronics maker's stock worth $36,000 after buying an additional 100 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. boosted its stake in Corning by 40.5% in the 4th quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 434 shares of the electronics maker's stock valued at $38,000 after buying an additional 125 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Up 2.4%

The business has a 50-day simple moving average of $152.75 and a two-hundred day simple moving average of $167.53. The stock has a market capitalization of $141.44 billion, a P/E ratio of 74.98, a PEG ratio of 1.96 and a beta of 1.13. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

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

Corning Company Profile

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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