UPDATE: Topeka Capital Markets Upgrades Corning to Buy on Strong Black Friday
Topeka Capital Markets raised its rating on Corning (NYSE: GLW) to Buy from Hold.
Topeka Capital Markets commented, "In light of the strong Black Friday weekend sales that we discussed yesterday and Corning's upwardly revised LCD glass outlook this morning, combined with the fact that the stock is trading below tangible book value, we are upgrading shares of Corning to Buy from Hold with a 12-month price target of $15.35. Our estimates are currently under review."
Corning closed at $15.35 on Monday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.