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Corning (GLW +2.9%) opens higher on an upgrade to Buy from Goldman. The firm sees Corning, which...
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Wednesday, September 19, 2012, 9:32 AM ETCorning (GLW +2.9%) opens higher on an upgrade to Buy from Goldman. The firm sees Corning, which trades below book value, delivering positive EPS growth (on a Y/Y basis) for the first time in two years in Q4 thanks to stabilizing LCD glass fundamentals (the result of supply controls). It also expects the LCD business' share of net income to fall to 74% in 2013 from 96% in '09, and Corning''s FCF yield to grow to 6%. The demand environment for LCD TVs has been anything but pretty. (previous)
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Maybe he will read my mind.