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UPDATE: Oppenheimer Upgrades Corning (GLW) to Outperform, Sees Limited Downside and Lots of Upside

August 31, 2012 7:17 AM EDT Send to a Friend
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Price: $20.71 +0.34%

Rating Summary:
    10 Buy, 15 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 16 | Down: 14 | New: 38
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(Updated - August 31, 2012 7:55 AM EDT)

Oppenheimer upgraded Corning (NYSE: GLW) from Perform to Outperform with a $16 price target.

The firm said the stock has has limited downside - given share buybacks and a good dividend - plenty of upside potential from its current business once macro improves, and optionality with new technologies.

Analyst Andrew Uerkwitz said spending a full day at the company's headquarters meeting a range of people from management to engineers has "giving us confidence in our new found view." "Catalysts will be display glass prices moderating while volumes start to rebound, other segments seeing favorably shifting market dynamics, and a potential dividend increase," he continued.

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 $11.62 yesterday.




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Comments

They will make you lose money!
Yogy on 2012-09-02 11:34:25
Mark as Spam | Reply to this comment

GLW cheat their stockholder, especially the president Weeks, the fuckman! their LCD Biz already in hell….


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