Why JP Morgan Upgraded Corning

Loading...
Loading...

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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorUpgradesPrice TargetAnalyst RatingsCESJPMorganRod Hall
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...