Citi Upgrades Corning (GLW) to Buy; Finally Time to Get Positive

Investing

Published: March 23, 2009 8:30 am

Last Updated: March 23, 2009 1:25 pm

Citi upgrades Corning Incorporated (NYSE: GLW) from Hold to Buy and raises its price target from $11.25 to $16, saying LCD glass production/sales have bottomed & should move sequentially higher.

Citi analyst says, “Our upgrade is based on three points: 1) LCD glass production/sales have bottomed & should move sequentially higher in 2Q; 2) Current glass demand now supported by restocking, but will see 2H09 hand-off to end market demand; 3) GLW should see production increase sequentially from 2Q09 through year-end, with strong positive impact on revenues, margins, EPS…

Get Ready To Retire ^(Sponsored)

Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.