Corning Incorporated (GLW) Receives ‘Analyst’ Rating

Corning Incorporated (GLW) : 2 brokerage houses believe that Corning Incorporated (GLW) is a Strong Buy at current levels. 4 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Corning Incorporated (GLW). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock. 3 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 10 Wall Street Analysts endorse the stock as a Hold with a rating of 3.3.

Corning Incorporated (GLW) has been rated by 8 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $23 and the lowest price target forecast is $15. The average forecast of all the analysts is $18.88 and the expected standard deviation is $3.28.


Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on Corning Incorporated (NYSE:GLW). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm raises the price target from $23 per share to $26 per share. The rating by the firm was issued on August 26, 2016.

Corning Incorporated (NYSE:GLW): After opening at $22.24, the stock dipped to an intraday low of $22.24 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $22.67 and the buying power remained strong till the end. The stock closed at $22.59 for the day, a gain of 0.98% for the day session. The total traded volume was 7,059,802. The stocks close on the previous trading day was $22.37.

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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