-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We raise our 12-month target by $67 to $190, 60.7x our 2026 EPS estimate, a notable premium to its three-year historical average P/E at 22.5x (corrected from 65.7x previously). We see this premium as warranted, similar to competitor LITE, given the potential growth AI demand could generate. We increase our 2026 EPS estimate by $0.02 to $3.13 and raise 2027's by $0.06 to $3.91. Corning has experienced substantial growth since the roll-out of its Springboard plan, including sales growth of about 40% and earnings growth of almost 90%, as well as improvements in operating margin and return on invested capital (ROIC) into the mid-teens. There is strong demand in the optical communications space, especially related to AI-driven data center expansion, with Corning's new fiber products proving successful and surpassing market expectations. Corning sees a large opportunity in the conversion of copper to optics in data centers, which is happening faster than initially anticipated, driving further growth potential.