Corning Stock: Corning Glass Deserves A New Price Target of $35

August 3, 2020
motek 1The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.

Summary

  • Thanks to the reliable prediction AI of I Know First, my June 25 buy recommendation for Corning Glass last June 25 is now a big winner.
  • Corning stock price has risen from $25.81 to $31.12. I was correct in my prediction that GLW deserved a price target of $30.
  • The ongoing pandemic is boosting cloud computing. This should be enough reason to raise my price target for GLW to $35.
  • Companies who are now learning to leverage cloud computing to remain 100% productive during this pandemic will continue to help improve GLW’s data center-centric business.
  • Bet more on Corning Glass because its partnership with Qualcomm for in-building 5G mmWave small-cell infrastructure is another strong growth driver.

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GLW Stock Price Target: Why Corning Glass Can Still Bounce Back To Above $30

June 25, 2020

This GLW stock price target article is written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First

Summary:

  • Corning’s stock has a 1-month price return of +25.72%. I’m still endorsing it as a buy. Corning’s Valor Glass drug packaging  is a pandemic winner.
  • The factories in China are again operating at full capacity. The second-half of 2020 will be kind to Corning Glass.
  • The headwind from COVID-19 is not just temporary. People and businesses are learning to adapt and function with this pandemic. 
  • The pandemic-induced greater demand for more internet bandwidth and cloud computing is a strong tailwind for Corning’s fiber optics products.
  • The Price/Sales valuation of GLW is lower than its industry peers. This stock is still therefore a good-value buy.

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