Glassmaker Corning Incorporated ( GLW ) on Friday saw its price target lowered by analysts at Sterne Agee.
The firm said it cut its target on GLW from $26 to $24, suggesting a still-massive 67% upside to the stock's Thursday closing price of $14.36.
Despite the lowered target, Sterne Agee maintains its "Buy" rating on GLW.
Corning shares, which have fallen more than 25% year-to-date, were mostly flat in premarket trading Friday.
The Bottom Line
Shares of Corning ( GLW ) have a 1.39% dividend yield, based on last night's closing stock price of $14.36. The stock has technical support in the $12 price area. If the shares can firm up, we see overhead resistance around the $16-$17 price levels.
Corning Incorporated ( GLW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.
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