Corning (GLW) PT Lowered to $55 at Oppenheimer

Oppenheimer analyst Martin Yang lowered the price target on Corning (NYSE: GLW) to $55.00 (from $58.00) while maintaining a Outperform rating.

The analyst comments "GLW reported 1Q25 core sales/EPS of $3.68B/$0.54, vs. Street's $3.64B/$0.51. Optical led the strength, including 106% Y/Y growth of Enterprise Network sales (52% of Optical segment sales in 1Q). Q2 guidance is also ahead of Street, implying 7% Y/Y growth in revenue and 21% Y/Y growth in EPS. 2Q25 EPS guide of $0.57 compares to a consensus estimate of $0.56. This guidance is stronger than it appears as it includes 1-2 cents impact from tariffs, and 3 cents from NT production ramp costs for Optical and Solar. Management expects insignificant headwinds from tariff changes between the US and rest of the world. Given the strong results and outlook, we maintain our Outperform rating and trim our PT from $58 to $55 based on broader market conditions."

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