Corning (NYSE:GLW – Get Free Report) had its target price lifted by investment analysts at Deutsche Bank Aktiengesellschaft from $46.00 to $49.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the electronics maker’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 5.13% from the company’s previous close.
GLW has been the topic of several other reports. JPMorgan Chase & Co. raised their price target on Corning from $47.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Susquehanna raised their price target on shares of Corning from $46.00 to $55.00 and gave the stock a “positive” rating in a research report on Friday, September 20th. Argus upped their price objective on shares of Corning from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. HSBC raised Corning from a “reduce” rating to a “hold” rating and set a $37.00 target price on the stock in a research report on Tuesday, July 9th. Finally, Barclays upped their price target on Corning from $36.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.23.
Get Our Latest Research Report on GLW
Corning Stock Up 4.5 %
Corning (NYSE:GLW – Get Free Report) last posted its earnings results on Tuesday, July 30th. The electronics maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. Corning had a return on equity of 12.69% and a net margin of 3.53%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period in the previous year, the company earned $0.45 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts anticipate that Corning will post 1.91 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of GLW. Ossiam grew its holdings in shares of Corning by 14.5% during the fourth quarter. Ossiam now owns 24,937 shares of the electronics maker’s stock worth $759,000 after purchasing an additional 3,153 shares during the last quarter. Elo Mutual Pension Insurance Co increased its stake in shares of Corning by 4.7% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 70,747 shares of the electronics maker’s stock valued at $2,154,000 after acquiring an additional 3,152 shares during the last quarter. Cresset Asset Management LLC raised its position in shares of Corning by 0.8% in the 4th quarter. Cresset Asset Management LLC now owns 316,543 shares of the electronics maker’s stock valued at $9,639,000 after acquiring an additional 2,613 shares during the period. Redwood Investment Management LLC boosted its stake in Corning by 15.3% during the 4th quarter. Redwood Investment Management LLC now owns 70,246 shares of the electronics maker’s stock worth $2,139,000 after acquiring an additional 9,299 shares during the last quarter. Finally, Bridgefront Capital LLC acquired a new position in Corning during the fourth quarter valued at approximately $813,000. Institutional investors own 69.80% of the company’s stock.
Corning Company Profile
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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