Corning (GLW) PT Raised to $51 at Mizuho

Mizuho analyst John Roberts raised the price target on Corning (NYSE: GLW) to $51.00 (from $47.00) while maintaining a Outperform rating.

The analyst commented: "Corning reiterated SepQ26 guide of $3.7B core sales and EPS midpoint of $0.53. We provide more color on Corning's ability to deliver stable earnings in the Display segment and a teardown of Optical upside optionality. Reflecting higher confidence and upside optionality, we raise our price target to $51 (from $47) which represents ‾14.0x NTM EV/EBITDA, a discount to its current currency-adjusted multiple of ‾14.8x."

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