
Corning (GLW) Stock Forecast & Price Target
Corning (GLW) Analyst Ratings
Bulls say
Corning's stock outlook is positive due to significant growth in its Carrier subsegment orders, which increased 24% year-over-year in the third quarter, alongside management's guidance indicating a revenue increase in this segment. The company is poised to benefit from strong demand across multiple segments, including Display and Optical, as customers resume capital expenditures and new products drive growth in Environmental, Specialty, and Life Sciences markets. Additionally, Corning's gross margin expanded by 221 basis points year-over-year, reflecting operational efficiency and favorable pricing conditions, further supporting the positive financial outlook.
Bears say
The analysis highlights a negative outlook on Corning's stock primarily due to declining glass volume in the third quarter, compounded by expectations of further decreases in the fourth quarter linked to lower fabrication utilization and seasonality. Additionally, the Environmental segment experienced significant sales declines of 14% quarter-over-quarter and 15% year-over-year, largely driven by continued weakness in North American Class 8 truck demand, which is anticipated to persist into the second half of 2024. Furthermore, the company has revised downward its sales projections for 2024 and 2025, reflecting unfavorable market conditions and management's recognition of continued poor visibility in order trends.
This aggregate rating is based on analysts' research of Corning and is not a guaranteed prediction by Public.com or investment advice.
Corning (GLW) Analyst Forecast & Price Prediction
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