Sterne Agee Reiterates Buy, $15 PT on Corning - Corning (NYSE:GLW)

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Sterne Agee maintains its Buy rating and $15 target price on Corning (NYSE: GLW) on highlights of Gorilla Glass 2 from CES. Sterne Agee says. "With Corning's revenue from Gorilla Glass at approximately $700 million (9% of total revenue) in 2011 and growing much faster than the overall company, we expect the rollout of Gorilla Glass 2 to be a marginal positive from the perspective of revenue growth. Furthermore, given that Gorilla Glass margins are above the corporate average, we believe the mix shift should have a positive impact to overall margins."GLW closed at $13.99 per share on Tuesday.

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