Goldman Sachs Upgrades Corning Incorporated to Buy with Price Target $26.00

Brokerage firm Goldman Sachs Upgrades its rating on Corning Incorporated(NYSE:GLW). In a research note issued to the investors, the brokerage major Raises the price-target to $26.00 per share. The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Goldman Sachs was issued on Apr 12, 2016.

In a different note, On Jan 26, 2016, Drexel Hamilton said it Maintains its rating on Corning Incorporated. According to the research note, Drexel Hamilton Lowers the price target to $15.75 per share from a prior target of $16.5. The shares have been rated ‘Hold’ by the firm. On Jan 22, 2016, UBS said it Maintains its rating on Corning Incorporated. According to the research note, UBS Lowers the price target to $18 per share from a prior target of $19. The shares have been rated ‘Neutral’ by the firm.

Corning Incorporated (GLW) made into the market gainers list on Fridays trading session with the shares advancing 0.72% or 0.15 points. Due to strong positive momentum, the stock ended at $20.92, which is also near the day’s high of $21. The stock began the session at $20.77 and the volume stood at 89,54,971 shares. The 52-week high of the shares is $22.98 and the 52 week low is $15.42. The company has a current market capitalization of $23,281 M and it has 1,11,28,37,210 shares in outstanding.

Corning Incorporated(GLW) last announced its earnings results on Jan 26, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $2.23B. Analysts had an estimated revenue of $2.33B. Earnings per share were $0.34. Analysts had estimated an EPS of $0.32.

Several Insider Transactions has been reported to the SEC. On Feb 19, 2016, Jeffrey W Evenson (Senior VP & Chief Strategy Off) sold 53,008 shares at $19.03 per share price.Also, On Feb 12, 2016, Lawrence D Mcrae (Vice Chairman & Corp. Dev. Off) sold 34,000 shares at $18.54 per share price.On Feb 5, 2016, James B Flaws (VICE CHAIRMAN) sold 69,519 shares at $18.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Corning Incorporated (Corning) is engaged in the manufacture of specialty glass and ceramics. The Company creates and makes keystone components that enable systems for consumer electronics mobile emissions control optical communications and life sciences. Corning operates in five segments: Display Technologies which manufactures glass substrates; Optical Communications which is engaged in providing optical solutions; Environmental Technologies which manufactures ceramic substrates and filter products; Specialty Materials which manufactures products that provide more than 150 material formulations for glass glass ceramics and fluoride crystals and Life Sciences segment which is a developer manufacturer and supplier of scientific laboratory products. The Company manufactures and processes products at approximately 90 plants in 17 countries.

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