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Investing.com - Oppenheimer raised its price target on Corning (NYSE:GLW) to $72.00 from $55.00 on Wednesday, while maintaining an Outperform rating on the stock. The new target represents potential upside from the current price of $61.98, though InvestingPro analysis suggests the stock is trading above its Fair Value.
The specialty glass maker reported second-quarter core sales of $4.05 billion and earnings per share of $0.60, exceeding Wall Street expectations of $3.86 billion and $0.57, respectively. This performance contributes to the company’s impressive 9.77% revenue growth over the last twelve months, with the stock delivering a notable 59.76% return over the past year.
Corning’s third-quarter guidance projects revenue growth of 13% year-over-year and EPS growth of 21% year-over-year, signaling continued momentum for the company.
The Enterprise sub-segment within Corning’s Optical business delivered particularly strong results, with revenue increasing 81% compared to the same period last year.
Oppenheimer noted that Corning "is far from running out of meaningful growth drivers" to achieve its Springboard plan, and may find additional growth opportunities from potential partners seeking to leverage its U.S.-based manufacturing presence.
In other recent news, Corning has reported strong financial results for the second quarter of 2025, exceeding market expectations. The company announced earnings per share of $0.60, surpassing both Mizuho (NYSE:MFG)’s estimate of $0.58 and the Bloomberg consensus of $0.57. Corning’s revenue for the quarter reached $4.05 billion, beating the anticipated $3.86 billion. Following these results, Mizuho raised its price target for Corning from $59.00 to $63.00 while maintaining an Outperform rating. These developments highlight Corning’s robust performance and have drawn positive attention from financial analysts. The company’s ability to exceed both earnings and revenue projections has been a significant factor in the recent analysis. Investors may find these updates noteworthy as they reflect Corning’s financial health and market position.
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