UBS Maintains a 'Buy' on Corning (GLW); Raising Estimates on Strong Q1
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Price: $165.99 +4.70%
Rating Summary:
16 Buy, 12 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 12 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' on Corning (NYSE: GLW) price target raised from $14 to $16.50.
Analyst, Nikos Theodosopoulos, said, "GLW reported a strong first quarter. Our key takeaway is that glass price declines have stabilized which will limit near term margin erosion as long as 1) retail demand holds up and 2) Japanese competitors don’t bring on material new capacity in 2012. Longer term we acknowledge risks of additional capacity expansions and the potential of less glass in OLED applications." (UBS raises FY12 EPS from $1.20 to $1.31 and FY13 from $1.35 to $1.45. FY13 revs raised from $8.6b to $8.8b)
"We raised our ‘12 Gorilla growth rate to 30% (from 17%) and maintain our ‘13 growth rate of 16%. Our telecom and environmental ests go down slightly."
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 $14.30 yesterday.
Analyst, Nikos Theodosopoulos, said, "GLW reported a strong first quarter. Our key takeaway is that glass price declines have stabilized which will limit near term margin erosion as long as 1) retail demand holds up and 2) Japanese competitors don’t bring on material new capacity in 2012. Longer term we acknowledge risks of additional capacity expansions and the potential of less glass in OLED applications." (UBS raises FY12 EPS from $1.20 to $1.31 and FY13 from $1.35 to $1.45. FY13 revs raised from $8.6b to $8.8b)
"We raised our ‘12 Gorilla growth rate to 30% (from 17%) and maintain our ‘13 growth rate of 16%. Our telecom and environmental ests go down slightly."
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 $14.30 yesterday.
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