AnalystConsensusTarget updated the narrative for GLW

Corning’s consensus price target rose to $71.42 as analysts point to robust Q3 guidance, ongoing AI-driven fiber demand, capital spending catalysts, and margin strength as key growth drivers supporting higher valuation.

Analyst Commentary

• Bullish analysts cite strong Q3 guidance, with revenue growth of 13% year-over-year and EPS growth of 21% year-over-year, as supporting further upside to estimates.
• Continued advances in AI-driven demand for data speeds, including GenAI clusters and associated fiber infrastructure buildouts, are seen as significant growth drivers.
• Corning is viewed as a beneficiary of increased capital expenditures from carriers for fiber-to-the-home and data center networks, as well as capturing share in domestic solar projects with leading U.S. content solutions.
• Expansion opportunities beyond the current Springboard plan, including new partnerships leveraging Corning's U.S. manufacturing presence, are expected to drive additional growth.
• Improved margin outlook driven by reduced tariff headwinds, resilient end markets, and strong incremental operating margins of 30%+, underpin higher investor confidence in earnings upside.

What's in the News

• Corning and Apple announced a significant expansion of their partnership, with Apple committing $2.5 billion to manufacture all iPhone and Apple Watch cover glass at Corning's Harrodsburg, Kentucky, facility, doubling the local workforce and creating the world's largest smartphone glass production line; the companies will also open a new Innovation Center (Key Developments).
• Corning and T1 Energy have entered into a strategic agreement to supply hyper-pure polysilicon and solar wafers from Corning's Michigan campus for T1's upcoming Austin, Texas, solar facility, supporting U.S. solar supply chains and energy independence beginning in late 2026 (Key Developments).
• Corning was involved in a White House-led meeting alongside other tech giants and rare earth firms to discuss U.S. government plans for price support to boost domestic critical minerals production and reduce reliance on Chinese supply chains (Reuters/Periodicals).
• The company has provided bullish guidance for Q3 2025, projecting double-digit year-over-year sales and earnings growth, with expected core sales of $4.2 billion and core EPS of $0.63–$0.67, and anticipates full-year net income at the high end of $900–950 million and margins of at least 25% (Key Developments).
• Corning completed a share buyback of 671,297 shares ($32.8 million) in Q2 2025, and has bought back over 48 million shares since July 2019; however, Corning was dropped from the Russell 1000 Value-Defensive and Defensive indices as of June 2025 (Key Developments).

Valuation Changes

Summary of Valuation Changes for Corning

• The Consensus Analyst Price Target has risen slightly from $69.83 to $71.42.
• The Future P/E for Corning has risen slightly from 29.28x to 29.92x.
• The Discount Rate for Corning remained effectively unchanged, moving only marginally from 8.53% to 8.50%.