BofA raised the firm’s price target on Corning to $51 from $46 and keeps a Buy rating on the shares. After having toured the Concord facility, which is “Corning’s largest and lowest cost fiber manufacturing facility,” the firm says it “walked away impressed with the technological intensity coupled with the manufacturing prowess in a very well managed facility.” The firm, which also notes that Corning provided updates to its “Springboard” plan and outlined detailed growth opportunities and margin targets, points out that Corning guided operating margins to reach 20% by the end of 2026, versus 19.5% for consensus.
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