Mizuho Reiterates Outperform Rating on Corning (GLW)

Mizuho analyst John Roberts reiterated an Outperform rating and $51.00 price target on Corning (NYSE: GLW).

The analyst commented: "Polysilicon expansions are normally "B" for $Billions. Today's $325M CHIPS Act award to expand production of higher purity semiconductor grade polysilicon is good, but may be just the beginning of Corning's polysilicon growth. Corning's Hemlock Semiconductor is the largest U.S. producer of polysilicon, but gets overshadowed by the larger optical glass fiber and flat panel display glass segments. We believe Hemlock may become the fastest business for Corning."

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 $47.03 yesterday.

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