Morgan Stanley Issues Pessimistic Forecast for Corning (NYSE:GLW) Stock Price

Corning (NYSE:GLW) had its price target decreased by research analysts at Morgan Stanley from $165.00 to $155.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the electronics maker’s stock. Morgan Stanley‘s price objective indicates a potential upside of 22.34% from the stock’s previous close.

Several other research firms also recently weighed in on GLW. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Bank of America dropped their price target on Corning from $243.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Sanford C. Bernstein began coverage on Corning in a research report on Wednesday, September 30th. They set a “market perform” rating and a $140.00 price target on the stock. The Goldman Sachs Group reaffirmed an “outperform” rating on shares of Corning in a research report on Tuesday, September 15th. Finally, Truist Financial boosted their price objective on Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.06.

Corning Trading Down 0.8%

Shares of NYSE:GLW opened at $126.69 on Wednesday. Corning has a 12 month low of $77.39 and a 12 month high of $271.78. The company’s fifty day moving average price is $149.49 and its 200 day moving average price is $154.34.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, October 27th. The electronics maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.03 billion. The business’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. On average, analysts anticipate that Corning will post 3.30 EPS for the current fiscal year.

Insider Buying and Selling at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the transaction, the executive vice president owned 15,052 shares in the company, valued at $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Western Pacific Wealth Management LP purchased a new position in Corning in the 3rd quarter valued at $25,000. Kings Path Partners LLC purchased a new position in Corning during the 3rd quarter worth $25,000. Atwood & Palmer Inc. purchased a new position in Corning during the 2nd quarter worth $26,000. Rogco LP acquired a new stake in shares of Corning in the 2nd quarter worth $27,000. Finally, Toth Financial Advisory Corp boosted its holdings in shares of Corning by 130.7% in the third quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 98 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning exceeded third-quarter expectations, reporting adjusted EPS of $0.91 versus the $0.88 consensus and revenue of $5.08 billion versus estimates of $5.03 billion. Revenue increased 18.9% year over year, while EPS rose from $0.67 a year earlier. Corning earnings report
• Positive Sentiment: Optical Communications remained the key growth engine, with sales surging 44% to $2.38 billion as artificial-intelligence data-center demand boosted orders for fiber-optic products. The performance also supported margin expansion and stronger cash generation. Zacks optical communications article
• Positive Sentiment: Management issued a favorable fourth-quarter outlook, targeting revenue of approximately $5.25 billion at the midpoint and higher adjusted earnings. Corning also highlighted a long-term goal of reaching a $40 billion annualized sales run rate by 2030, reinforcing its AI and connectivity growth narrative. Corning third-quarter results
• Neutral Sentiment: Truist Securities lowered its price target to $175 but continued to describe the recent pullback as a buying opportunity. The revision may temper near-term enthusiasm, although the target remains well above the current trading level. Truist price target article
• Negative Sentiment: Despite the earnings beat and upbeat guidance, GLW has decreased as investors appear to be looking for an even larger upside catalyst after a substantial AI-driven rally. The stock is also trading below its 50-day and 200-day moving averages, signaling continued technical pressure.

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.