Deutsche Bank analyst Matthew Niknam upgraded Corning to Buy from Hold with a price target of $38, up from $35, implying nearly 20% total return. The analyst believes Q1 results are likely to mark the bottom for both Corning’s revenues and non-GAAP earnings, with improvements in forward periods via positive inflections in key segments including Display and Optical, which collectively make up 55% of the company’s sales. The firm says the company is "turning a corner."
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Published first on TheFly
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