Buckingham Research Reiterates 'Strong Buy' Rating on Corning (GLW), Sees Growth Many Years in the Future
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Buckingham Research reiterates a 'Strong Buy' rating on Corning (NYSE: GLW). Price target $34.
Buckingham analyst says, "AU Optronics (NYSE: AUO), GLW’s largest customer in Taiwan, made an announcement overnight that is much more important than whether seasonally low July/Aug TV retail sales meet consensus expectations. AUO announced plans to build 4 new Gen 10 or higher LCD plants over the next decade. Gen 10 can be used to make large LCD-TVs (50”+) at much lower cost than prior Generation plants. The only prior Gen 10 announcement has been Sharp, whose plant is under construction and we believe will be sole-sourced by GLW for LCD glass. We believe GLW is currently the dominant supplier to AUO’s current Gen. 8 capacity, given GLW built its glass plant across the street from AUO. It would be logical to think GLW could have a similar position for AUO’s new Gen. 10 capacity."
Corning Incorporated (Corning) is a global, technology-based company that operates in four business segments: Display Technologies, Telecommunications, Environmental Technologies and Life Sciences.
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Comments
Corning low PE
Corning's PE is only six, that should tell one it is a good buy. Folk's you are all blind not to take heed about this. Good luck to all you'r shorts
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Corning --
BOB on Aug 28, 2008 11:55 AMI have been told Corning is getting ready to restart their plant in Concord , N. C.. They would not be starting this plant up unless they plan to manufacture their new fiber cable AND had plenty of orders for it. BUY BUY BUY