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Investing.com - Mizuho (NYSE:MFG) raised its price target on Corning (NYSE:GLW) to $63.00 from $59.00 on Tuesday, while maintaining an Outperform rating following the company’s earnings report. The stock, currently trading at $61.66 with a market capitalization of $52.8 billion, has shown impressive momentum with a 33% return over the past year. According to InvestingPro analysis, the company maintains strong financial health with a Fair Value indicating current overvaluation.
Corning reported second-quarter 2025 hedged earnings per share of $0.60, exceeding both Mizuho’s estimate of $0.58 and the Bloomberg consensus of $0.57. The company’s hedged sales for the quarter reached $4.05 billion, surpassing Mizuho’s projection of $3.9 billion.
GAAP EBITDA rose 14.6% quarter-over-quarter to $921 million, compared to Mizuho’s estimate of $876 million, driven by 12% quarter-over-quarter higher organic sales. Optical enterprise sales, which represent more than 50% of data center business, increased 9% quarter-over-quarter.
For the third quarter of 2025, Corning guided for hedged EPS with a midpoint of $0.65, above Mizuho’s estimate of $0.60 and the Bloomberg consensus of $0.62. The company also projected hedged sales of $4.20 billion for the quarter, exceeding Mizuho’s forecast of $3.8 billion.
Mizuho cited the strong quarterly performance and positive outlook as reasons for raising its price target on Corning stock while maintaining its Outperform rating.
In other recent news, Corning Incorporated reported impressive financial results for the second quarter of 2025. The company exceeded market expectations with an earnings per share (EPS) of $0.60, surpassing the forecasted $0.57. This 5.26% positive surprise was further bolstered by Corning’s revenue, which reached $4.05 billion, outpacing the anticipated $3.86 billion. These results mark a significant achievement for Corning, reflecting strong operational performance. Additionally, the company’s robust earnings report has attracted attention from analysts, although no specific upgrades or downgrades were noted in the recent updates. Investors may find these developments noteworthy as they consider the company’s financial health and market position.
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