Corning price target raised to $39 from $35 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Corning to $39 from $35 and keeps a Hold rating on the shares ahead of the Q2 report. The analyst is encouraged by recent commentary reaffirming that Corning has likely moved past a Q1 bottom in revenues, with optimism around a recovery in optical segment trends likely the biggest driver of positive forward growth. The firm sees this driving greater operating leverage and free cash flow benefits, “which has opened the door” to a resumption of share buybacks in Q2.