Citi analyst Asiya Merchant added a “90-day positive catalyst watch” on shares of Corning while keeping a Buy rating on the shares with a $50 price target. At the September 19 investor event, the firm expects to hear further specifics regarding Corning’s optical segment demand drivers. At Citi’s Global TMT conference, Corning management sounded more confident in achieving the incremental revenue outlined in its Springboard framework, or $3B higher than annualized Q4 of 2023 levels, coupled with strong margin leverage, the analyst tells investors in a research note.
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