Corning Incorporated (GLW) : Analyst Rating Update

Corning Incorporated (GLW) : The consensus on Corning Incorporated (GLW) based on 12 analyst recommendation on the company stock is 3.25, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 6 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 3 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Corning Incorporated (GLW).

Corning Incorporated (GLW) : The most positive equity analysts on Corning Incorporated (GLW) expects the shares to touch $23, whereas, the least positive believes that the stock will trade at $15 in the short term. The company is covered by 9 Wall Street Brokerage Firms. The average price target for shares are $18.33 with an expected fluctuation of $3.11 from the mean.

Corning Incorporated (NYSE:GLW): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $19.86 and $19.78 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $20.14. The buying momentum continued till the end and the stock did not give up its gains. It closed at $20.11, notching a gain of 0.90% for the day. The total traded volume was 3,701,012 . The stock had closed at $19.93 on the previous day.

Also, Citigroup initiates coverage on Corning Incorporated (NYSE:GLW) The current rating of the shares is Buy. Equity Analysts at the Firm announces the price target to $23 per share. The rating by the firm was issued on June 20, 2016. The company shares have rallied 4.13% from its 1 Year high price. On Jun 7, 2016, the shares registered one year high at $21.30 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $20.22 and the 200 Day Moving Average price is recorded at $19.26.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.