Citigroup Stays Neutral on Corning on Pricing Concerns

Citigroup reiterates its Neutral rating on Corning (NYSE: GLW) and maintains its $14 price target as it shares concerns on pricing pressures.

Citigroup says, "Severe pricing declines are expected to continue through 1Q as glass makers work closely with their customers to help improve the profitability imbalance in the supply chain. Glass supply and demand are expected to balance at some point during the year."

GLW closed at $14.62 a share on Tuesday.