Morgan Stanley Reiterates Underweight Rating on Corning After Analyst Day
In a report published Monday, Morgan Stanley reiterated its Underweight rating on Corning (NYSE: GLW).
Morgan Stanley noted, “GLW's analyst day was largely uneventful. Mgmt sees Gorilla becoming a $2-3B biz by ‘16, above our ests and Street, but Hemlock impairments could lower book value in coming months, adding downside risks. While the innovation pipeline appears strong, potential payoffs are out far. UW.”
Corning closed on Friday at $12.28.
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