Corning (GLW) Stock Forecast & Price Target

$46.73

+2.14 (+4.80%)

(As of 10/9/2024 ET)

Corning - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 14 Analyst Ratings

Sell
0

Hold
5

Buy
9

Based on 14 Wall Street analysts who have issued ratings for Corning in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 14 analysts, 5 have given a hold rating, and 9 have given a buy rating for GLW.

Consensus Price Target

$47.23
1.07% Upside

According to the 14 analysts' twelve-month price targets for Corning, the average price target is $47.23. The highest price target for GLW is $55.00, while the lowest price target for GLW is $37.00. The average price target represents a forecasted upside of 1.07% from the current price of $46.73.

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GLW Analyst Ratings Over Time

Type	Current Forecast 10/10/23 to 10/9/24	1 Month Ago 9/10/23 to 9/9/24	3 Months Ago 7/12/23 to 7/11/24	1 Year Ago 10/10/22 to 10/10/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	9 Buy rating(s)	9 Buy rating(s)	7 Buy rating(s)	6 Buy rating(s)
Hold	5 Hold rating(s)	5 Hold rating(s)	7 Hold rating(s)	4 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$47.23	$45.62	$42.92	$38.40
Forecasted Upside	1.07% Upside	11.34% Upside	-4.74% Downside	31.28% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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GLW Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

GLW Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Corning Stock vs. The Competition

Type	Corning	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.64	2.66	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	1.07% Upside	1,671.84% Upside	7.26% Upside
News Sentiment Rating	Positive News See Recent GLW News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/9/2024	Deutsche Bank Aktiengesellschaft 2 of 5 stars		Boost Target	Buy ➝ Buy	$46.00 ➝ $49.00	+5.67%
9/20/2024	Oppenheimer 3 of 5 stars		Boost Target	Outperform ➝ Outperform	$47.00 ➝ $51.00	+15.10%
9/20/2024	Bank of America 4 of 5 stars		Boost Target	Buy ➝ Buy	$46.00 ➝ $51.00	+15.12%
9/20/2024	Susquehanna Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Positive ➝ Positive	$46.00 ➝ $55.00	+24.01%
8/21/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Roberts Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Neutral ➝ Outperform	$44.00 ➝ $47.00	+15.39%
7/31/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$36.00 ➝ $40.00	-0.65%
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7/29/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$47.00 ➝ $55.00	+29.41%
7/26/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Equal Weight ➝ Equal Weight	$39.00 ➝ $39.00	-8.94%
7/12/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$45.00 ➝ $51.00	+11.06%
7/9/2024	Hsbc Global Res Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Bersey Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Moderate Sell ➝ Hold
7/9/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$38.00 ➝ $44.00	-1.83%
7/9/2024	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Kelleher Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$40.00 ➝ $50.00	+12.16%
7/9/2024	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Reduce ➝ Hold	$37.00	-14.05%
6/17/2024	Fox Advisors Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Equal Weight ➝ Overweight	$45.00	+20.81%
6/9/2023	888 Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Upgrade
2/1/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform	$41.00 ➝ $40.00	+15.57%
10/26/2022	Susquehanna Bancshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		$40.00 ➝ $39.00	+20.74%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 12:19 AM ET.

Should I Buy Corning Stock? GLW Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, October 3, 2024. Please send any questions or comments about these Corning pros and cons to contact@marketbeat.com.

Corning
Bull Case

Here are some ways that investors could benefit from investing in Corning Incorporated:

Corning's stock price has been steadily increasing, reaching $44.59 on the latest trading day, indicating positive momentum.
Corning has a diverse business portfolio, including display technologies, optical communications, environmental technologies, specialty materials, and life sciences, providing stability and potential for growth across multiple sectors.
Recent analyst ratings have been favorable, with a majority of analysts giving the stock a buy or outperform rating, indicating confidence in the company's future performance.
Corning's consistent dividend payouts and yield of 2.51% offer investors a source of passive income while holding the stock.
The company's strong financial performance, with a solid return on equity of 12.69% and a net margin of 3.53%, demonstrates efficient management and profitability.

Corning
Bear Case

Investors should be bearish about investing in Corning Incorporated for these reasons:

Corning's stock has a relatively high P/E ratio of 63.26, which may indicate that the stock is currently overvalued compared to its earnings.
The company's debt-to-equity ratio of 0.63 suggests a moderate level of debt, which could pose risks in case of economic downturns or financial instability.
Corning's payout ratio of 157.75% raises concerns about the sustainability of its dividend payments in the long term, as it indicates that the company is paying out more in dividends than it is earning.
The stock's beta of 1.04 implies a similar level of volatility as the overall market, which may not appeal to risk-averse investors seeking more stable investments.
While the company has shown growth, the P/E/G ratio of 1.73 suggests that the stock may be slightly overvalued relative to its expected earnings growth rate, potentially limiting future upside.

GLW Forecast - Frequently Asked Questions

: According to the research reports of 14 Wall Street equities research analysts, the average twelve-month stock price forecast for Corning is $47.23, with a high forecast of $55.00 and a low forecast of $37.00.
: 14 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Corning in the last year. There are currently 5 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" GLW shares.
: According to analysts, Corning's stock has a predicted upside of 1.07% based on their 12-month stock forecasts.
: Over the previous 90 days, Corning's stock had 2 upgrades by analysts.
: Corning has been rated by research analysts at Bank of America, Barclays, Citigroup, Deutsche Bank Aktiengesellschaft, JPMorgan Chase & Co., Mizuho, Morgan Stanley, Oppenheimer, and Susquehanna in the past 90 days.
: Analysts like Corning less than other "computer and technology" companies. The consensus rating score for Corning is 2.64 while the average consensus rating score for "computer and technology" companies is 2.66. Learn more on how GLW compares to other companies.

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This page (NYSE:GLW) was last updated on 10/9/2024 by MarketBeat.com Staff

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