Corning: Earnings Recovery To Monitor

Mare Evidence Lab
5.77K Followers

Summary

  • Corning provided a supportive Q2 outlook, but limited guidance visibility raises concerns.
  • Supportive capital allocation priorities and Corning's profitability metrics backed the company's equity story.
  • Adjustments to internal estimates result in a lower target price for Corning. Still, we maintain a buy rating status.

"Corning Glass Works" Arch at Corning World Headquarters

John M. Chase

Following a stock price underperformance in mid-October 2023, we decided to deep-dive into Corning (NYSE:GLW), emphasizing "Supportive Megatrends Coupled With A Recovery Story." Our buy rating was supported by 1) a margin leverage potential

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Buy-side hedge professionals conducting fundamental, income oriented, long term analysis across sectors globally in developed markets. Please shoot us a message or leave a comment to discuss ideas.DISCLOSURE: All of our articles are a matter of opinion, informed as they might be, and must be treated as such. We take no responsibility for your investments but wish you best of luck.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of GLW either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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