Topeka Capital Upgrades Corning (GLW) to Buy as LCD Outlook Raised

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Shares of Corning (NYSE: GLW) are moving higher after the stock was upgraded to Buy from Hold by analysts at Topeka Capital. The upgrade comes in part thanks to revised LCD outlook announced this morning.

"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," said analyst Brian J. White.

For an analyst ratings summary and ratings history on Corning click here. For more ratings news on Corning click here.

Shares of Corning closed at $11.35 yesterday, with a 52 week range of $10.62-$15.04.

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