GLW

JP Morgan Upgrades Corning (GLW)

Fintel reports that on May 30, 2024, JP Morgan upgraded their outlook for Corning (NYSE:GLW) from Neutral to Overweight.

Analyst Price Forecast Suggests 2.25% Upside

As of May 22, 2024, the average one-year price target for Corning is 36.35. The forecasts range from a low of 29.29 to a high of $42.00. The average price target represents an increase of 2.25% from its latest reported closing price of 35.55.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Corning is 16,283MM, an increase of 31.47%. The projected annual non-GAAP EPS is 2.64.

What is the Fund Sentiment?

There are 1,875 funds or institutions reporting positions in Corning. This is an decrease of 2 owner(s) or 0.11% in the last quarter. Average portfolio weight of all funds dedicated to GLW is 0.23%, an increase of 2.74%. Total shares owned by institutions increased in the last three months by 1.11% to 660,394K shares. GLW / Corning Incorporated Put/Call Ratios The put/call ratio of GLW is 0.54, indicating a bullish outlook.

What are Other Shareholders Doing?

GLW / Corning Incorporated Shares Held by Institutions

Wellington Management Group Llp holds 29,971K shares representing 3.50% ownership of the company. In its prior filing, the firm reported owning 31,313K shares , representing a decrease of 4.48%. The firm decreased its portfolio allocation in GLW by 86.01% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 24,156K shares representing 2.82% ownership of the company. In its prior filing, the firm reported owning 24,073K shares , representing an increase of 0.35%. The firm decreased its portfolio allocation in GLW by 0.97% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 19,354K shares representing 2.26% ownership of the company. In its prior filing, the firm reported owning 18,756K shares , representing an increase of 3.09%. The firm decreased its portfolio allocation in GLW by 1.52% over the last quarter.

Geode Capital Management holds 17,612K shares representing 2.06% ownership of the company. In its prior filing, the firm reported owning 16,941K shares , representing an increase of 3.81%. The firm decreased its portfolio allocation in GLW by 0.51% over the last quarter.

Ameriprise Financial holds 17,470K shares representing 2.04% ownership of the company. In its prior filing, the firm reported owning 17,942K shares , representing a decrease of 2.70%. The firm decreased its portfolio allocation in GLW by 82.22% over the last quarter.

Corning Background Information
(This description is provided by the company.)

Corning is one of the world's leading innovators in materials science, with a 169-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display, automotive, and life sciences.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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