Barclays Maintains an 'Overweight' on Corning (GLW); Initial Black Friday Data Encouraging
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Price: $151.45 -0.66%
Rating Summary:
16 Buy, 12 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
16 Buy, 12 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Barclays maintains an 'Overweight' on Corning (NYSE: GLW) price target of $18.00.
Barclays analyst says, "Though retailers will not be releasing full data on November sales trends until Thursday, our initial checks post Black Friday supports ongoing y/y growth in LCD TVs in the U.S. Overall electronics sales seem to be healthy, especially flat screen TVs which were a key promotional item. We note some products sold out, while select vendors (eg,. LG and Panasonic) raised prices post Black Friday, suggesting progress in reducing inventory (below we include our Japan Display and Lighting/Consumer Electronics team's, led by Yuji Fujimori, survey of major model pricing post Black Friday)....According to data released by ShopperTrack, Black Friday sales increased 6.6% y/y vs 0.3% in 2010...Electronics products were purchased by 39.4% of consumers vs 2010's 36.7%, suggesting a healthy backdrop for LCD TV demand."
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 $13.95 yesterday.
Barclays analyst says, "Though retailers will not be releasing full data on November sales trends until Thursday, our initial checks post Black Friday supports ongoing y/y growth in LCD TVs in the U.S. Overall electronics sales seem to be healthy, especially flat screen TVs which were a key promotional item. We note some products sold out, while select vendors (eg,. LG and Panasonic) raised prices post Black Friday, suggesting progress in reducing inventory (below we include our Japan Display and Lighting/Consumer Electronics team's, led by Yuji Fujimori, survey of major model pricing post Black Friday)....According to data released by ShopperTrack, Black Friday sales increased 6.6% y/y vs 0.3% in 2010...Electronics products were purchased by 39.4% of consumers vs 2010's 36.7%, suggesting a healthy backdrop for LCD TV demand."
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 $13.95 yesterday.
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