UBS Group Upgrades Corning (NYSE:GLW) to "Buy"

Key Points

• UBS Group upgraded Corning's stock rating from "neutral" to "buy," raising the price target from $65.00 to $84.00, indicating a potential upside of 25.32% from the previous close.
• Corning recently reported earnings that exceeded analysts' expectations, with EPS of $0.60 for the last quarter, and set a guidance of 0.630-0.670 EPS for Q3 2025.
• Despite recent upgrades, several analysts maintain varying price targets, with consensus around $66.75, reflecting mixed sentiments across different research reports.

Corning (NYSE:GLW - Get Free Report) was upgraded by UBS Group from a "neutral" rating to a "buy" rating in a report issued on Tuesday,Benzinga reports. The firm presently has a $84.00 price target on the electronics maker's stock, up from their previous price target of $65.00. UBS Group's price target would indicate a potential upside of 25.32% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley set a $56.00 price target on Corning and gave the company an "equal weight" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their price target on Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Barclays increased their price target on Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Wall Street Zen raised Corning from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, Susquehanna reissued a "positive" rating and set a $75.00 target price (up previously from $60.00) on shares of Corning in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Corning presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.75.

Corning Price Performance

NYSE:GLW opened at $67.03 on Tuesday. Corning has a one year low of $37.31 and a one year high of $69.29. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The stock has a market cap of $57.42 billion, a PE ratio of 71.31, a P/E/G ratio of 1.50 and a beta of 1.09. The stock has a 50 day moving average price of $59.16 and a 200 day moving average price of $51.19.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.84 billion. During the same quarter last year, the firm earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts expect that Corning will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling at Corning

In other news, SVP Michael Paul O'day sold 14,879 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the transaction, the senior vice president directly owned 35,743 shares in the company, valued at $2,228,933.48. This trade represents a 29.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Wendell P. Weeks sold 82,103 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the transaction, the chief executive officer owned 809,295 shares of the company's stock, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 163,950 shares of company stock valued at $10,449,192. Corporate insiders own 0.32% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. REAP Financial Group LLC grew its stake in Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker's stock worth $27,000 after purchasing an additional 339 shares in the last quarter. Total Investment Management Inc. acquired a new position in Corning during the 2nd quarter worth $28,000. Vermillion Wealth Management Inc. acquired a new position in Corning during the 4th quarter worth $29,000. Putney Financial Group LLC acquired a new position in Corning during the 4th quarter worth $30,000. Finally, Investment Management Corp VA ADV grew its stake in Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock worth $34,000 after purchasing an additional 463 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.

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