Financial Wire

Research Alert: CFRA Maintains Buy Opinion On Shares Of Corning Inc.

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target price by $67 to $190, 60.7x our 2026 EPS estimate, comparable to its three-year historical average P/E at 65.7x. We increase our 2026 EPS estimate by $0.02 to $3.13 and raise 2027's by $0.06 to $3.91. Corning has experienced substantial growth since the roll-out of its Springboard plan, including sales growth of about 40% and earnings growth of almost 90%, as well as improvements in operating margin and return on invested capital (ROIC) into the mid-teens. There is strong demand in the optical communications space, especially related to AI-driven data center expansion, with Corning's new fiber products proving successful and surpassing market expectations. Corning sees a large opportunity in the conversion of copper to optics in data centers, which is happening faster than initially anticipated, driving further growth potential.

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ASX Preview: Australian Shares to Fall as Middle East Tensions Ease Tentatively; Alcoa Posts Lower Q1 Adjusted Earnings, Revenue

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