Rod Hall of JP Morgan on Thursday upgraded shares of Corning Incorporated GLW to Overweight from Neutral with a price target raised to $26 from a previous $21 due to increased UHD penetration expectations.
According to Hall, the Iris Glass that was recently unveiled at the CES event represents an additional revenue opportunity for Corning and could provide as much as 6 percent upside to fiscal 2016 earnings per share.
The analyst now estimates the company will earn $1.71 per share in 2015, 7.8 percent more than previously estimated.
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